Unilmmo: Wohnen ZBI, an open-ended real estate fund of Union Investment and ZBI, has acquired roughly 5,000 residential units across Germany for a total of €260 mln.
The properties lift the value of the fund portfolio to €780 mln, with the one billion mark due to be reached later this year.
The newly acquired properties in the portfolio are split across 11 different states in Germany, including large cities such as Berlin, Munich and Dresden as well as established medium-sized towns such as Magdeburg, Oberhausen, Weimar and Zwickau.
Unilmmo: Wohnen ZBI was launched jointly by Union Investment and ZBI in July 2017. It focuses on properties that offer affordable living space for the wider population, with medium to high amenity value. Geographically, the fund is open to investment opportunities throughout Germany.