Heitman adds German residential properties to pan-European portfolio
Heitman has added 17,000sqm of German rented-residential properties to its pan-European portfolio.
Heitman said the acquired portfolio consists of 285 residential units, eight commercial units, and 132 parking spaces, with more than 17,000sqm of lettable space.
Financial and vendor details were undisclosed.
The portfolio of rented-residential properties are located across three German metropolitan regions that include Hamburg, Frankfurt, and Cologne and Düsseldorf.
Tony Smedley, Heitman managing director and head of European private equity, said: “We are focused on strategies that will benefit from drivers that are delinked or less sensitive to economic and market volatility and are supported by long-term structural fundamentals.
“This portfolio is consistent with our strategy in the living sectors and positions our portfolios to capture long-term growth, while also providing defensive characteristics during this stage of the cycle.”
Since 2018, Heitman has invested about €415m in living sector assets diversified across Europe.