A newly created partnership between investment firm KKR and German residential real estate manager Vision Group has acquired its first portfolio.

Vision said the partnership has bought a 9,700sqm portfolio of 163 units in Dingolfing, Lower Bavaria.

The two- to four-room apartments have the potential for value enhancement through creating additional living space and digital solutions, Vision said.

Niclas Wallrafen, the COO and partner of Vision Group, said: “Due to the proximity of the apartments to Munich and Regensburg, as well as the attractiveness of Dingolfing, we see substantial potential in further developing the assets. As our first investment in Bavaria, we are widening our regional footprint and expanding our growth strategy.”

The Vision and KKR partnership, formed last month intends to buy residential properties and invest in them with the intention to enhance the quality of living for tenants through operational upgrades while also reducing their energy footprint.

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