Bouwfonds IM bags 3 residential assets in Germany and Denmark

Dutch investment manager Bouwfonds IM has acquired three residential properties in Denmark and Germany for a total of €117 mln on behalf of a German institutional client.

In Denmark, the company has purchased a property of around 17,000 m2 for around €80 mln in the capital of Copenhagen in the Bøgholm – Sydhavnen area. The building consists of 178 units and 155 garage parking spaces and will be connected to the city centre with its own U-Bahn connection by 2025.

The second acquisition involves a 6,000 m2 property also located in Copenhagen in the Vanløse area, which Bouwfonds acquired for around €21 mln. It was built in 2009 and consists of 60 residential units.

The third transaction relates to a 7,000 m2 property in the German city of Leipzig. The building is located in the Quartier Media City area and will be renovated and delivered by the end of 2016. Following the revamp, it will consist of 70 residential units and 53 parking spaces. The purchase price was around €17 mln.

The properties have been purchased for Portfolio Wohnen, part of an exclusively designed institutional real estate fund which will be managed by 2IP Institutional Investment Partners. Bouwfonds IM is responsible for the portfolio and asset management of the real estate part of the fund.

Michael Keune, fund manager European residential for Bouwfonds IM Deutschland, said: 'We are pleased to have realised these attractive investment opportunities in two economically vibrant cities in Europe for our client. The acquisitions comprise good, centrally located, residential properties or developments. The “Portfolio Wohnen” has achieved a size of approximately €430 mln allocated to Germany, Denmark and the Netherlands.'

Netherlands Real Estate Opportunities Conference
7 September 2015
London

PropertyEU is bringing the Dutch market to London for the first time with a special one-day conference in cooperation with the Dutch government, leading cities and investors in the market.

Click here for more information and to sign up for complimentary attendance and listen to PropertyEU associate publisher Richard Betts outline the main themes of the event on our YouTube channel