Deutsche Asset One pays €110m for 270 resi and commercial buildings

Investment manager Deutsche Asset One has acquired 270 residential and commercial units on behalf on Union Investment funds.

 

The properties in the German cities of Dresden, Hanover, Leipzig and Potsdam were purchased for around €110 mln.

With the exception of regional capital Hanover, the cities are university locations exhibiting population growth and rising purchasing power.

The assets were acquired for selected cooperative investors as off-market transactions from experienced developers and family offices respectively.

Deutsche Asset One said it intends to invest €500 mln in residential properties over the next 12 months.

Thilo von Stechow, managing director of Deutsche Asset One, said: ‘Access to various locations means we are able to offer our investors an attractive asset allocation to spread the risk.

‘Our continuous growth with property assets currently managed in the amount of more than 1.2 billion euros substantiates this firmly. Over the next year we plan further transactions in the amount of around 500 million euros.’

Bernhard Kraus, Managing Director of Union Investment Institutional, said: ‘In the past twelve months, Deutsche Asset One spotted a volume of offers of over €20 bn for us and in this way realised very attractive investments for our cooperative investors.

‘In Deutsche Asset One we have a long-term and very competent investment and asset management partner at our side with nationwide expertise and very good access to the residential property sector.’

Events

Latest news

Best read stories