Fundamenta fund buys in Germany

FG Wohninvest Deutschland S.C.S. SICAV-SIF has acquired a residential complex in Wolfsburg's new Steimker Gärten neighborhood. The complex with 20 residential units was completed in November 2020 and is already fully leased, according to Fundamenta Group. The seller is Meyer Projektentwicklung GmbH of Lüneburg, which acts as a developer within the Meyer Group. Robert C. Spies Gewerbe und Investment GmbH & Co. KG acted as advisor and agent in the transaction.

According to Fundamenta Group, the new building is part of the Steimker Quartett project consisting of four residential buildings, most of which were sold individually. The building, which was constructed in accordance with the KfW 55 standard, has a living space of around 1,900 sqm and is in line with Fundamenta Group Germany's ESG strategy, according to which properties with a high energy standard are preferentially acquired in new construction projects.

The property is located in the Steimker Gärten new development district close to the city center, which comprises a total of around 1,800 high-quality new apartments and was designed by VW Immobilien. (ah)