Commerz Real’s German smart living fund has added 265 student and micro apartments to its portfolio.
The manager said the CR Institutional Smart Living Fund has invested an undisclosed amount to buy the residential complex being developed at Johannisgasse 26 in Leipzig by AT Projektentwicklungs.
The project site is a former office building, originally erected in 1990. The site is being redeveloped and converted into apartments with first students expected to move into the building in March 2022.
Heiko Szczodrowski, head of asset structuring portfolio management at Commerz Real, said the open-ended fund, which already has nine other properties, has invested in assets worth €420m in total.
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