Fundamenta fund buys in Dresden
Zug-based Fundamenta Group acquires a residential real estate portfolio in Dresden for the open-end real estate fund FG Wohninvest Deutschland S.C.S. SICAV-SIF.
The purchase agreement for the leased portfolio of 137 residential and ten commercial units with a total leasable area of around 9,400 sqm in Dresden and its immediate catchment area was signed at the end of October. This is the third portfolio acquired since June 2017 for FG Wohninvest Deutschland, whose investment strategy is focused on high-growth B-cities and the suburbs of A-cities. The buyer was legally advised on the transaction by the law firm Görg.
"With the acquisition in Dresden, we were able to acquire an almost fully leased portfolio with stable cash flow and good rental and appreciation potential in one of the currently fastest-growing cities in Germany," says Christian Paul, CEO of Fundamenta Group Deutschland AG. The portfolio of FG Wohninvest Deutschland will thus be diversified by another dynamically developing location. With the other portfolios under review, the fund's growth is progressing rapidly according to plan, Paul said.
