Press –  06/07/2023

Deutsche Investment Acquires New-Build Construction Project of 99 Units in Bielefeld for Article-9 Residential Investment Fund


Deutsche Investment just acquired two construction stages of the “Grünheide Bielefeld” new-build neighbourhood. These include ten multi-family houses with a total of 99 residential units on a site area of around 10,000 square metres. The acquired assets are earmarked for the “Deutsche Investment – Wohnen ESG I” special AIF.

The “Grünheide Bielefeld” neighbourhood development is currently the most prominent housing project in the region. It is under construction in the north-east corner of Bielefeld’s Mitte district on a site of eleven hectares, and will deliver residential accommodation for about 2,000 people. In addition to its size, the property development boasts a very impressive sustainability concept. More than 90 percent of the energy needed will be generated on the grounds. This is accomplished by the use of highly efficient air-source heat pumps and photovoltaic systems. Amandla International, the property developer and seller, is implementing this concept to maximise the degree of autonomous energy generation and thereby to secure stable long-term energy costs for the tenants.

With construction stages 1 and 1a, Deutsche Investment acquired ten multi-family houses. Qualifying as 55EE and 40EE KfW efficiency houses, the buildings meet the currently strictest energy efficiency standards. The first development site has already been completed and is fully tenant-occupied. The second construction field will be completed by the end of the second quarter of 2023. “The residential quarter as a whole blends very harmoniously into the urban landscape even though the buildings have a timelessly modern architecture throughout.
This aspect as well as the diversified mix of dwellings translate into a spectrum of options that appeals to a broad potential tenant base. In some cases, roughly one third of the units represent subsidised housing construction. On the whole, this is an investment that meets significant social requirements along with the environmental ones,” explained Gilbert Merz, Principal Transaction Management at Deutsche Investment Kapitalverwaltung AG. During the transaction, Deutsche Investment was advised on legal aspects by the law firm Arnecke Sibeth Dabelstein and in regard to the technical due diligences by CBRE. On the seller side, Savills acted as estate agency, with legal counsel provided by Dr. Urban & Emmerich and tax consultancy by Bergmann & Partner.

The “Deutsche Investment – Wohnen ESG I” separate asset pool represents an Article 9 fund in accordance with the SFDR that Deutsche Investment launched in 2022. It focuses on investments in Class A cities and their metro regions as well as in selected fast-growth cities that take environmentally/socially sustainable aspects into account or else have the potential to be developed to the same standards. The fund has a target volume of c. EUR 500 million.