Le mie ricette per la real estate community Deutsche Asset One, an investment specialist for residential real estate throughout Germany, has acquired approximately 715 residential and commercial units worth over EUR 300 million from MEAG in the city of Munich and the district of Munich. The properties will become part of various institutional open-ended real estate funds of Union Investment that are aimed exclusively at cooperative securities account investors (Depot A). Deutsche Asset One is again planning an investment volume of approximately EUR 500 million this year.
“Thanks to our very good local market access throughout Germany, we can also acquire suitable properties in good condition for our clients in particularly sought-after regions, such as Munich and the surrounding area,” says Thilo von Stechow, managing partner at Deutsche Asset One. “We are pursuing a long-term and sustainable strategy with all our properties. The careful and cautious treatment of tenants and property maintenance for a quality of life throughout the city are becoming increasingly important in transactions in the residential sector.”
Bavaria’s state capital and the district of Munich are considered to be the regions in Germany with the highest growth prospects. A total of 10 of the 30 DAX corporations have their registered office in Munich, and the city expects population growth of around 20 per cent by 2035. According to the city administration, the current average purchasing power in Munich is just under EUR 32,900 and thereby clearly exceeds other major cities in Germany (Hamburg: EUR 26,200, Stuttgart: EUR 25,500). The part of the district of Munich on the southern edge of the state capital ranked in the top four in the categories of employment market, innovation and prosperity in this year’s Prognos Zukunftsatlas. Of the 401 districts and cities studied, Munich and the district of Munich achieved the highest rating alongside only eight other districts and cities.
Bernhard Kraus, managing director of Union Investment Institutional GmbH, says: “The purchases made for institutional real estate funds in proprietary investments for our cooperative banks once again prove the expertise of Deutsche Asset One in the nationwide residential market. We look forward to expanding our proven partnership further.”
Pic : Thilo von Stechow
Source : Deutsche Asset One GmbH