Bouwfonds Investment Management has acquired an apartment complex development with 107 units in the German city of Rostock for its Bouwfonds European Residential Fund (BERF).
The property, which is due to be delivered in 2018, was acquired from Amerillo GmbH for approximately €28.3 mln.
Commenting on the deal, Kerstin Lauerbach, fund manager BERF said: 'We are very pleased with our first acquisition in Rostock due to the prime location. It is located near Hamburg and Berlin and is a valuable long-term addition to our residential portfolio. Rostock also has its own university with around 15,000 students.'
The new building totals approximately 9,300 mw and will be constructed this year at the crossing of Am Vögenteich/August-Bebel Straße. The complex will also comprise 85 parking places.
Rostock is located in the northern part of Germany and is the largest city in the Mecklenburg-Vorpommern area.
