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Nexus Fortuna - Q2 2026 Report
(MENAFN- MENAFNEditorial) Our latest acquisition is a distressed land plot of around 31,000 sq m in Duisburg, bought at auction. We secured two of the four plots at a 70% discount to the price paid by the previous buyer. The site is a very important one for the city and allows for over 400 apartments with ground floor retail. Our plan is to reposition the asset and sell it to a developer on a turnkey basis, with an expected equity multiple of at least 2x. We also intend to offer it together with our Steeler property, which allows for around 160 units. Together, the two sites form a very large portfolio for a potential buyer and should command a good premium, especially when positioned as turnkey.
On Lindengraben, we expect to receive the sale proceeds shortly. A final meeting with the city will determine whether the building permit can be published. The only remaining risk is that the plot currently has no zoning plan. If a new zoning plan is required, this would cause a further delay. We expect clarity in the course of October.
The next property to be sold is Rheinberger. We are in discussions with our own contacts as well as a local broker, and expect a price between €4 million and €5 million. The property was acquired nine months ago for €3 million, which represents a potential capital gain of 33% to 67%. As with our other assets, the sale has been structured on a turnkey basis for the next buyer.
The Essen HQ property is also progressing well. We are in discussions with a government tenant who would take most of the building on a long-term lease of 15 years or more, and who is very interested in a new build tailored to their needs. The rent under discussion is €29 per sqm, 45% above the €20 per sqm we had assumed. Structured this way, the asset would deliver an expected high equity multiple on our investment. In parallel, we are speaking with other government departments and will decide whether to market the property openly. So far, we have kept it exclusive and off-market.
Our pipeline has never been stronger. Since the start of the year, we have analysed over €400 million of distressed deals. From this, we have selected around €40 million of opportunities where we are now in advanced discussions and have shown our interest in acquiring. These are land plots and partially let or vacant buildings, previously held mainly by private investors who took on too much bank leverage and can no longer carry their assets. For insolvency managers and creditors, a reliable cash buyer who can close quickly is exactly what they need, and this is where Nexus Fortuna is best positioned to secure the deepest discounts.
On Lindengraben, we expect to receive the sale proceeds shortly. A final meeting with the city will determine whether the building permit can be published. The only remaining risk is that the plot currently has no zoning plan. If a new zoning plan is required, this would cause a further delay. We expect clarity in the course of October.
The next property to be sold is Rheinberger. We are in discussions with our own contacts as well as a local broker, and expect a price between €4 million and €5 million. The property was acquired nine months ago for €3 million, which represents a potential capital gain of 33% to 67%. As with our other assets, the sale has been structured on a turnkey basis for the next buyer.
The Essen HQ property is also progressing well. We are in discussions with a government tenant who would take most of the building on a long-term lease of 15 years or more, and who is very interested in a new build tailored to their needs. The rent under discussion is €29 per sqm, 45% above the €20 per sqm we had assumed. Structured this way, the asset would deliver an expected high equity multiple on our investment. In parallel, we are speaking with other government departments and will decide whether to market the property openly. So far, we have kept it exclusive and off-market.
Our pipeline has never been stronger. Since the start of the year, we have analysed over €400 million of distressed deals. From this, we have selected around €40 million of opportunities where we are now in advanced discussions and have shown our interest in acquiring. These are land plots and partially let or vacant buildings, previously held mainly by private investors who took on too much bank leverage and can no longer carry their assets. For insolvency managers and creditors, a reliable cash buyer who can close quickly is exactly what they need, and this is where Nexus Fortuna is best positioned to secure the deepest discounts.
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