Frankfurt-based housing company Industria Wohnen has acquired a portfolio of 800 homes in Germany from Bouwfonds Investment Management for €51.1 mln.

Frankfurt-based housing company Industria Wohnen has acquired a portfolio of 800 homes in Germany from Bouwfonds Investment Management for €51.1 mln.

The bulk of the assets are located in Hamburg and Osnabruck in northern Germany with the remainder spread across various towns and cities in North Rhine-Westphalia.

The portfolio, totalling around 53,700 m2, is over 96% leased. Most of the units date from the 1960s and 1970s and were extensively renovated last year.

The assets were acquired for Industria Wohnen’s open-ended special fund Industria Wohnen Deutschland III, which has invested over €80 mln in the German housing market to date.