Bouwfonds Investment Management recently acquired an apartment complex with 107 units in Rostock for its Bouwfonds European Residential Fund (BERF). Bouwfonds IM acquired the property from Amerillo GmbH. The total transaction volume is approximately EUR 28.3 million.
Rostock is located in the north part of Germany and is the largest city in the Mecklenburg-Vorpommern area. The new building of approx. 9.300 sq. m. will be constructed in 2017 on the crossing of Am Vögenteich/August-Bebel Straße. The building will consist of 107 units and 85 garage places and will be delivered in 2018.
Kerstin Lauerbach Fund Manager Bouwfonds European Residential Funds says, “We are very pleased with our first acquisition in Rostock due to the prime location. It is located in close proximity to Hamburg and Berlin and it is a valuable long-term addition to our residential portfolio. Rostock also has its own university with around 15,000 students.