Fundamenta Group acquires in Germany
The German subsidiary of the Fundamenta Group has acquired two properties in the Hamburg area for the FG Wohninvest Deutschland real estate fund.
According to Fundamenta Group Deutschland, this involves two residential complexes with around 8,700 square meters of rentable space, which are located in Hamburg and the greater Hamburg area. The sellers are a private community of heirs in one case and an institutional fund in the other. In addition to 143 apartments, the portfolio also includes twelve commercial units, mainly retail space on the first floors.
The two properties will be transferred to the Luxembourg fund FG Wohninvest Deutschland S.C.S. SICAV-SIF, Fundamenta Group Deutschland also announced. The acquisitions will increase the portfolio in the Hamburg area, which already comprises around 450 residential units, to almost 600 residential units. According to Rainer Pohl, Head of Transaction Management, the Hamburg residential market is characterized by extremely low vacancy rates and uninterrupted population growth. (ah)
