Heitman has launched a fund for rental apartments in Western Europe and immediately acquired its first portfolio in Germany from Grainger. The asset includes 110 buildings located across the western portion of Germany, primarily in Frankfurt and Mannheim. This institutional grade portfolio represented the majority of Grainger’s residual assets in Germany. Heitman will take on board Grainger’s Frankfurt-based investment specialist team. The new fund’s targeted equity is about €250m.
