French asset manager Horizon AM has announced it is investing a total of €38 mln in several residential development opportunities in Germany.
Horizon said it is making the investments on behalf of its Opportunité Pierre 2 fund. It expects a yield of at least 8% from the projects, which will provide a total of just over 9,000 m2 and are located in the cities of Berlin, Hamburg, Nuremberg and Munich.
Dolphin Trust will manage the development of the sites, in its role of Horizon's development partner in Germany.
'In addition to providing an efficient response to the housing deficit observed in Germany, the rehabilitation of listed or existing buildings illustrates our vision of responsible real estate, which is part of our approach of sustainable development,' commented Arnaud Monnet, managing director of Horizon AM.
