Schroders' German Residential Fund has bought a further 438 residential units and 44 commercial assets in three separate transactions in Berlin, Hamburg and Munich. The deals bring the fund's investment volume to EUR 250 mln, Immobilien Zeitung reported The acquisiton of a further 2,000 apartments worth EUR 160 mln is being considered, which would bring the fund closer to its investment target of EUR 800 mln by mid-2008.
Schroders' German Residential Fund has bought a further 438 residential units and 44 commercial assets in three separate transactions in Berlin, Hamburg and Munich. The deals bring the fund's investment volume to EUR 250 mln, Immobilien Zeitung reported The acquisiton of a further 2,000 apartments worth EUR 160 mln is being considered, which would bring the fund closer to its investment target of EUR 800 mln by mid-2008.
The newly acquired residential assets in Hamburg and Munich will be privatised from 2008. Bonn-based BauGrund-Gruppe will take over the management of the properties.
