INDUSTRIA WOHNEN PURCHASES HIGH QUALITY RESIDENTIAL UNITS FOR SPECIAL PROPERTY FUND
Industria Wohnen, specialists in investment in German residential property, has made another purchase for their special property fund “Energy efficient living”. Three buildings were bought in Heinrich Heine Gärten in Düsseldorf, a new residential development, which is currently under construction. The properties contain 86 apartments, with a total living space of around 8,000 square metres. A kindergarten and 94 underground parking spaces are also included in the purchase. The first of the buildings will be finished in the first half of 2013 and is already 50% let. The other two buildings will be completed in the next two years. The acquisition was purchased from Frankonia Eurobau and the price was agreed in secret.
This acquisition brings the value of the portfolio of this special property fund “Energy efficient living” to €100m. The fund invests specifically in new builds and existing buildings with potential for energy efficient refurbishment. The target volume of the fund, whose own capital is already completely in the hands of institutional investors, is €200m.
“Due to their architecture and location close to the city centre the apartments in Heinrich Heine Gärten offer high quality city living in a very private environment,” said Klaus Niewöhner-Pape, managing director of Industria Wohnen. “They fit perfectly into the portfolio of the fund.”
A total of 23 buildings are being built By Frankonia Eurobau, with 375 apartments and four underground car parks in the new residential quarter next to the Vodafone Campus, on the left side of the Rhein in Düsseldorf. The apartments are distributed over six buildings containing 176 rental properties and a further 17 buildings with 199 apartments for sale. The apartments and lofts with premium quality interiors including 2,90m ceilings, the park-like surroundings with a very high proportion of green as well as a full range of services ensure an exclusive living environment.
Industria Wohnen specialises in German residential property. The company, with headquarters in Frankfurt am Main offers private and institutional investors the opportunity to invest in apartments in economically strong locations all over Germany and offers a comprehensive rang of services in asset and property management. At present Industria Wohnen manages more than 8,000 apartments and is backed by over 50 years of experience in the market. The company has positioned itself in the market with special property funds for institutional investors at an investment volume of over €500m.
Industria Wohnen is a subsidiary of Degussa Bank and a member of the Warburg Group.
Press contact: Stefanie Heilken ,
Ergo Kommunikation Public Relations Agency
Münchener Straße 36 60329
Frankfurt am Main
Tel. 00 69 / 27 13 89 -25
26 March 2013