The Real I.S. AG has for the real estate special AIF “Real I.S Modern Living” a building comprising 119 micro living apartments in acquired in Hamburg. The seller is Advantum Real Estate Investment GmbH, Munich. It was agreed not to disclose the purchase price.
The “Wöschenhof” property for student accommodation is located in Hamburg district of Tonndorf and has a total rental area of approx. 5,300 square meters. The tenant is the Federal Agency for Real Estate (BImA), which rents the apartments Students from the University of the Federal Armed Forces, the Helmut Schmidt University provides. Within walking distance there are various restaurants, shopping and recreational opportunities. Tonndorf train station and various bus stops are within a few minutes’ walk.
“Micro living apartments are one of the investment priorities of ‘modern living’, making the property in Hamburg-Tonndorf an excellent second investment after purchasing a portfolio of retirement homes in France for the fund power,” says Axel Schulz, Global Head of Investment at Real I.S. Inc.
The real estate special AIF “Modern Living” invests in existing and New build properties and properties under construction in the residential segment. The focus is on senior citizens’ homes and nursing homes as well Micro apartments and dormitories as well as classic residential buildings. the Investment focus is in Germany, supplemented by other countries from the euro area. The aim is to have a diversified residential real estate portfolio with a Payout of 2.75 to 3.25 percent p.a. a. build up on a ten-year average.
The Real IS was advised on the transaction by Norton Rose and Fulbright technically advised by CBRE. Böttcher & Fischer Rechtsanwälte stood by Advantum as a legal advisor. Savills acted as broker.
About the Real I.S. group
The Real IS Group has been the fund service provider specializing in real estate investments for 30 years of BayernLB. The affiliated company of the Sparkassen-Finanzgruppe is one of the leading asset managers in the German market. In addition to alternative investment funds (special AIF and closed Public AIF) and an open real estate public fund includes the product and Range of services Individual fund solutions, club deals and joint ventures. The enterprise has around EUR 12.5 billion in assets under management. The Real IS Group has two Licensed capital management companies (KVGs) according to KAGB and subsidiaries or Offices in France, Luxembourg, Spain, the Netherlands and Australia.
