Bouwfonds IM buys resi properties and developments in Germany

Bouwfonds Investment Management has acquired several residential properties and development projects in Germany on behalf of a local pension fund.

The assets were acquired in single transactions for a total volume of €102 mln.

Bouwfonds IM will asset manage the properties as part of a mandate to manage the residential property segment of the pension fund’s real estate special fund.

The properties that have been acquired include development projects in Heidelberg and Freiburg, valued at €54 mln, and existing properties in Wiesbaden, Potsdam, Hannover, Hamburg and Leipzig, with an overall value of €48 mln.

Commenting on the acquisitions, Michael Keune, fund manager at Bouwfonds IM, said: ‘We are pleased we have been able to acquire attractive existing properties and new build developments for this mandate in sought-after residential markets. The properties are in attractive residential areas, almost all units are let and they are either in mint condition or they have been thoroughly renovated.’

Keune added that Bouwfonds IM aims to invest a total of €400 mln in residential assets in the next 24 months in German conurbations showing strong growth.

Institutional Investment-Partners (2IP), an asset management company for investors, will manage the master fund for the pension fund.