Within the framework of a portfolio of new turn-key buildings, Deutsche Investment acquired a multi-family home as well as a mixed residential/commercial building with a combined total of 29 units on around 2,500 square metres of lettable area in the greater Hamburg area. The properties were sold by their developer, the Köse Group based in Hamburg. The acquired real estate is earmarked for the “Deutsche Investment – Wohnen IV” special property fund.
The properties of the new-build portfolio are located in Pinneberg, a district capital in the north-western metro region of Hamburg. The property on Elmshorner Strasse in the north end of town represents a multi-family home with 12 residential units. It benefits from short distances to various green areas, including the Wolnysee lakeside, and to all the usual day-to-day amenities. Tenants at the mixed residential/commercial building on Rübekamp, which divides into 15 residential and two commercial units, benefit from both a prime downtown location and nearby greenery: The parklands of Drosteipark are located in the rear of the building. At the same time, a short 30-minute commute on the rapid transit system will take you to the central railway station of Hamburg.
Both property developments will be handed over in a fully occupied state, with 84 percent of the units already let. “The new-build portfolio in Pinneberg perfectly complements our separate asset pool. The residential units are optimally dimensioned for medium- to long-term lease agreements, and are comprehensively equipped with high-end fit-out features. This kind of opportunity to buy property in such a sought-after location with very convenient access to the public local and long-haul transportation network is definitely hard to find,” explained Ines Hannemann, Transaction Manager of Deutsche Investment Kapitalverwaltung AG. During the transaction, Deutsche Investment was advised in legal matters by the law firm GSK Stockmann in Hamburg and in regard to the technical due diligences by Canzler GmbH, also based in Hamburg.
“The properties meet the KfW 40 and KfW 40+ sustainability standards, and therefore qualify for the classification as low-energy houses. Their primary energy consumption is amazingly low, which actually makes them more energy-efficient than currently required under the Building Energy Act (GEG). At the same time, a photovoltaic system on site generates electricity that is fed into a stationary storage unit and used to meet the in-house energy needs. As a result, our tenants are largely autonomous of utility company, which implies genuine value added in times of skyrocketing energy costs,” elaborated Enver Büyükarslan, Director for Sales and Transaction Management of Deutsche Investment Kapitalverwaltung AG.
The “Deutsche Investment – Wohnen IV” separate asset pool represents an open-ended special AIF whose targeted investment volume is c. EUR 250 million. The investment strategy seeks to set up a balanced real estate portfolio whose properties are used for residential rental business purposes. The fund is fully invested, its allocation focusing on the Hamburg metro region.
