Deutsche Investment Sells Residential Portfolio in Hamburg Metro Region

Hamburg, 18 Dezember 2019 – Deutsche Investment Kapitalverwaltungsgesellschaft mbH just sold a residential property portfolio in the Hamburg metro region to ZBI Zentral Boden Immobilien Gruppe for 27.2 million euros.

The portfolio comprises three housing estates with a total of eight multi-unit dwellings, 277 residential units and a lettable area of 16,014 square metres. Two of these housing estates with 162 and 99 flats, respectively, are located in Uetersen while the third housing estate of 16 residential units is located in Glinde. The transfer of benefits and burdens is expected to take place on 01 January 2020.

The portfolio is part of the property holdings of the “Deutsche Investment – Wohnen III” real estate special AIF. Launched with a target volume of 250 million euros in 2016, this investment fund was fully invested within a period of six months and is currently in its operating phase. Its investment focus is on existing residential real estate in Berlin and Hamburg. While its target performance over a ten-year period is 4.5 percent p.a., the fund achieved a time-weighted return (German BVI standard) of 16.0 percent p.a. between its launch date and 30 September 2019, the most recent reporting date.

“Thanks to our long-established network, we will reinvest the capital freed up by the sale in properties with central locations and thus use it for the sustainable optimisation of our existing portfolio,” said Michael Krzyzanek, Managing Director for Portfolio Management at Deutsche Investment KVG.

 

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Deutsche Investment Sells Residential Portfolio in Hamburg Metro Region

Hamburg, 18 Dezember 2019 – Deutsche Investment Kapitalverwaltungsgesellschaft mbH just sold a residential property portfolio in the Hamburg metro region to ZBI Zentral Boden Immobilien Gruppe for 27.2 million euros.

The portfolio comprises three housing estates with a total of eight multi-unit dwellings, 277 residential units and a lettable area of 16,014 square metres. Two of these housing estates with 162 and 99 flats, respectively, are located in Uetersen while the third housing estate of 16 residential units is located in Glinde. The transfer of benefits and burdens is expected to take place on 01 January 2020.

The portfolio is part of the property holdings of the “Deutsche Investment – Wohnen III” real estate special AIF. Launched with a target volume of 250 million euros in 2016, this investment fund was fully invested within a period of six months and is currently in its operating phase. Its investment focus is on existing residential real estate in Berlin and Hamburg. While its target performance over a ten-year period is 4.5 percent p.a., the fund achieved a time-weighted return (German BVI standard) of 16.0 percent p.a. between its launch date and 30 September 2019, the most recent reporting date.

“Thanks to our long-established network, we will reinvest the capital freed up by the sale in properties with central locations and thus use it for the sustainable optimisation of our existing portfolio,” said Michael Krzyzanek, Managing Director for Portfolio Management at Deutsche Investment KVG.

 

Download the press release

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