Le mie ricette per la real estate communityCommerz Real Capital Management Company (Kapitalverwaltungsgesellschaft, KVG) has purchased the student accommodation
Hain114 and the neighbouring sheltered housing for the elderly in Hanover for its “CR Institutional Smart Living Fund”.
The
seller of the properties at Schulenburger Landstrasse 114 and
Voltmerstrasse 71c, respectively, is the project development company
Aragon Immo Project. The total investment
volume is approx. 36 million euros. The sheltered housing for the
elderly was completed at the end of 2018; the student accommodation is
to be opened in time for the start of the 2021 winter semester. Cube
Life, a subsidiary of Cube Real Estate domiciled in
Leverkusen, has been commissioned with the management of the two
properties.
The 13-storey Hain114 was built to plans drawn up by the architect Max
Dudler and will have some 241 furnished apartments accommodating 255
students on a total floor space of 5,750 square metres. The students can
also make use of 37 car parking spaces, 200
protected bicycle parking facilities, as well as a roof terrace and
common areas. In addition, care and advisory services are to be offered.
Several of the nine universities and colleges in Hanover can be reached
by bicycle in a matter of minutes. The neighbouring
sheltered accommodation for senior citizens comprises a building with
27 barrier-free apartments constructed to the KfW 55 energy efficiency
standard and eleven car parking spaces. The nearby central area of the
“Hainhölzer Mark” district is easily reached
on foot and has a number of shopping facilities, amenities and
gastronomy offerings. Johanniter-Unfall-Hilfe will provide care services
in the complex.
“As
special residential forms that will see high demand in the future both
student accommodation and sheltered housing for senior citizens are
ideally suited to the investment strategy
for our Smart Living Fund,” explains Johannes Anschott, the board
member at Commerz Real responsible for institutional business.
“Furthermore, Hanover is a growing metropolitan region.” Thus the
capital of Lower Saxony ranks among the largest educational locations
in Germany with nearly 48,000 students at nine universities and
colleges. In the past ten years the population in the Hanover region has
increased by approx. 6.4 per cent to some 1.17 million. “Alongside the
service sector with state offices, local government
agencies and the trade fair, the manufacturing sector with a number of
renowned companies such as Continental, VW and Siemens forms a solid
economic basis for purchasing power that is higher than the national
average,” explains Anschott.
“CR
Institutional Smart Living Fund” is designed as an open-ended special
AIF (alternative investment fund) and was launched at the end of 2016;
in the medium term it is to invest
approx. 300 million euros on behalf of professional and semi-professional investors in student residential complexes in Germany.
Source : Company