Commerz Real has bought a 97 residential units complex in Germany for its open-ended real estate fund HausInvest.
The fund has invested an undisclosed amount in a forward funding deal to acquire Seetor Living, which is yet to be built in Nuremberg-Mögeldorf by developer GBI.
The construction of Seetor Living” is scheduled to begin this month, with the first tenants being able to move in during the second half of 2022.
The 6,000sqm Seetor Living building is part of the Seetor City Campus quarter development which covers nearly 20,000sqm and which encompasses not only additional apartments but also office and hotel buildings.
Maja Procz, global head of transactions at Commerz Real, said: “With its excellent location and the focus on subsidised accommodation Seetor Living ideally suits our fund strategy with its orientation to social sustainability.”
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