Bouwfonds Investment Management has acquired several residential real estate investment properties in Germany and Denmark on behalf of a German institutional client for a purchase volume of approximately 130 million euros. Within the framework of an individual mandate, Bouwfonds IM is responsible for portfolio and asset management of the “Portfolio Wohnen”.

The objects acquired include two projects in Hamburg, one project in Frankfurt and one project in Copenhagen. The projects in Hamburg-Schnelsen (approx. 24 million euros) and in Copenhagen-Vallensbæk (approx. 23 million euros) are existing buildings of approx. 12,000 sq. m. and 8,000 sq. m. The projects in Hamburg-Wandsbek and Frankfurt are development projects of approx. 12,000 sq. m. and 7,000 sq. m. The investment volume of the project in Hamburg is approx. 53 million euros and 31 million for the project in Frankfurt. Both developments will be delivered by the end of 2016. The properties are all very well located — sometimes even in the centre of town — and are for the most part in excellent condition or have been structurally renovated or will be constructed in the next two years.

Michael Keune, Fund Manager European Residential Bouwfonds IM Deutschland: “We are pleased to have acquired attractive stock of newly constructed properties in three economically vibrant cities for our client. The acquisitions consist of good, or even centrally located, residential properties, nearly all of them fully occupied, and either in perfect condition or structurally renovated or to be completed in the next two years.”

The “Portfolio Wohnen “ is part of an exclusively designed institutional real estate fund . 2IP Institutional Investment Partners, as a capital management services company [KVG], will manage the fund and including regulatory and administrative activities. Bouwfonds IM will be responsible for the portfolio and asset management of the real estate part of the fund.