Bouwfonds Investment Management has bought three new residential projects in Germany for a south-German institutional investor.
Bouwfonds Investment Management has bought three new residential projects in Germany for a south-German institutional investor.
The sites in Berlin, Dresden and Cologne cost just over €60m in total and comprise 274 residential units. All three should be delivered by 2016.
Bouwfonds is the sole portfolio manager for the fund, which has now spent more than €160 mln and has another €240 mln still to be invested.
‘The aim is to invest a total of €240 mln in the next 12 to 18 months in conurbations showing strong growth, for the ‘residential property portfolio’ of the real estate fund,’ said Michael Keune, the fund manager.
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