Commerz Real acquisisce un progetto residenziale a Berlino

Commerz Real Capital Management Company (Kapitalverwaltungsgesellschaft, KVG) has acquired a student and apartment building to be constructed in Berlin-Friedrichshain for its real estate special fund “CR Institutional Smart Living Fund”. The seller is the Berlin-based project development company Ansorg Development. It was agreed that confidentiality be maintained on the purchase price. The acquisition by Commerz Real has been structured as an asset deal in the form of forward funding. This means that Commerz Real has initially bought the plot of land with an obligation to build and then gradually pays for the real estate in line with construction progress.

Ansorg Development plans to complete the building at Gürtelstrasse 36 by the third quarter of 2021. It will encompass 232 furnished apartments on six storeys and approx. 5,000 square metres of leasable area. There will be a bicycle stand for each apartment.

“Berlin is an ideal location for student and micro-apartments,” explains Johannes Anschott, the Commerz Real board member responsible for institutional business. “Many international students, young professionals and commuters are looking for living quarters available at short notice and with modern furnishings, yet face a supply shortage.” Above all ranks among the coveted residential areas for students and young adults, and its international population has a relatively low average age. The complex at Gürtelstrasse 36 is linked to the city centre and important universities thanks to the nearby suburban train and underground station. Moreover, it is located in the vicinity of the Mediaspree district with a large number of communications and media companies.

The open-ended special AIF (alternative investment fund) “Commerz Real Institutional Smart Living Fund” is investing approx. 300 million euros for professional and semi-professional investors in student residential complexes in Germany.

Source :  Company