Fundamenta Group acquires in Germany
The German subsidiary of Fundamenta Group has acquired a new construction project in Hamburg-Jenfeld for the residential real estate fund FG Wohninvest Deutschland.
Real estate fund FG Wohninvest Deutschland S.C.S. SICAV-SIF has acquired a sustainably oriented new-build property with 40 residential units and around 1,700 sqm of living space in Hamburg, near the Jenfelder Au development area, according to a Fundamenta Group statement. The property is scheduled for completion and full occupancy in July 2020.
This acquisition brings the portfolio volume to over 500 million euros, according to Fundamenta Group. In total, the fund holds around 3,200 apartments spread across ten regions in Germany.
Since the fund's launch in August 2017, investor money amounting to 350 million has been acquired, and a capital increase with a volume of up to 100 million euros is currently being planned, the statement continues. The money is to be invested in around six months on the basis of an "attractive acquisition pipeline". The focus is on high-growth B-cities and agglomerations of A-cities in the mid-range rental price segment. (ah)
