CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has acquired a residential building in Munich from a global investment manager.
The property is located next to the Hirschgarten park in the Neuhausen-Nymphenburg district of Munich and is well
connected to the city centre thanks to its proximity to the city's main S-Bahn line and the network of cycle paths.
Delivered in 2008, this high quality building covering 6,200 m2 with 75 apartments has a good ESG profile, with an EPC level B and being connected to Munich's district heating network, which is aiming for carbon neutrality by 2035.
This latest acquisition in Munich marks CDC Investissement Immobilier 's second residential deal in Germany this year, following a partnership with Covivio on a portfolio of 8 properties located in the city-centre of Berlin.
Thanks to its resilience and stable cash flow, residential continues to play an important role (around 30% of the portfolio) in CDC Investissement Immobilier’s investment strategy, led by Arnaud Taverne its CEO, the firm said.
Given its size, solid economic fundamentals and the depth of its residential rental market, Germany is a strategic market for the international diversification strategy being implemented by the team led by Lucas Mignot, head of international investments.
LUWIN Real Estate advised CDC Investissement Immobilier on the acquisition and will be in charge of asset management.
CDC Investissement Immobilier and LUWIN were advised by Poellath, KPMG, Drees & Sommer and CBRE.
