Fundamenta buys for Germany fund
Asset manager Fundamenta has purchased seven residential real estate portfolios in German cities through its German subsidiary.
According to Fundamenta, the portfolios acquired at the end of the year are located in Nuremberg, Erlangen, Frankfurt, Solingen, Trier, Dortmund and Hamburg-Norderstedt and will be added to the portfolio of the real estate fund FG Wohninvest Deutschland S.C.S. SICAV-SIF. The purchases, worth 135 million euros, bring the fund's investment volume to around 320 million.
A total of 794 residential and 16 commercial units with a rental area of 45,667 sqm were acquired. The vacancy rate is reported to be 2.6 percent. The fund's portfolio thus grows to 2,298 residential and 37 commercial units with a vacancy rate of 3.2 percent.
With the acquisition of the new portfolios, the investor capital of 80 million raised in summer 2018 is invested, Fundamenta says. Further capital commitments of 80 million as of the end of 2018 are largely reserved for investments that have already been notarized, it adds. (ah)
