Hamburg, 1 September 2025 – Readcrest Capital AG (ISIN: DE000A1E89S5), the listed Hamburg-based real estate investment company, and Karimian Flossbach & Co, the Cologne-based investment company, are forming a development joint venture on an equal (50/50) basis to pursue opportunities in the German real estate market together.
The joint company will acquire and recapitalise distressed development companies and complete their respective projects. Both partners contribute their regionally complementary networks, capital and expertise. A development volume of around €300 million is planned over the coming twelve months. Initial projects are already under review.
“Developers in Germany face major problems: liquidity in many markets has almost dried up, financing has become more restrictive and more expensive, the construction industry is partly under strain, and regulatory and bureaucratic pressure is growing. This has led to numerous insolvencies and caused the supply side in many real estate markets to collapse. At the same time, demand for housing continues to rise — intensifying the shortage. That is precisely where opportunities for counter-cyclical engagement arise.” — Rolf Elgeti, CEO of Readcrest Capital AG
“Germany needs homes, not half-finished construction sites. We bridge the gap between distressed situations and the acute need for marketable housing. Our approach is pragmatic: recapitalise, de-complicate, complete. What matters is not the announcement, but the completion.” — Nikan Karimian-Pour, Managing Partner
This announcement was distributed via international financial portals, including Immobilien Zeitung.
Previously published as KFK Holding.
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