Bouwfonds European Residential Fund has expanded its residential portfolio with acquisitions in Germany and Denmark, growing its total gross asset value to €913 million. The total investment volume of the three acquisitions amounts to €52 million.

In Germany, the fund acquired a residential property of approx. 19,000 sq. m. in the city of Münster in the district ‘Coerde’. The building consists of 239 units and 93 parking spaces. The apartment building is well connected to the city center; the journey takes just 30 minutes by U-Bahn and less than 15 minutes by bicycle. The investment was €22 million and the vendor is the German company TMW Pramerica Property Investment GmbH.

The fund also purchased a property of around 5,100 sq. m. in Göttingen. The building has been completely renovated in 2012/2013 and consists of 146 units and 30 parking spaces. The investment was €10 million and the vendor is Projektgesellschaft Goβlerstr. 77 mbH & CO KG.

In Denmark, a property of approx. 5,000 sq. m. has been acquired in Ørestad at Edvard Thomsens Vej 7A-C. This is a new residential area in Copenhagen with exciting architecture and in close proximity to the city center as well as Kastrup airport. The new subway takes just 10 minutes to travel from Ørestad to the city center of Copenhagen. The investment was €20 million.