Commerz Real Capital Management, acting on behalf of “Commerz Real Institutional Smart Living Fund”, has forward-funded a student- and micro-apartment scheme in Dusseldorf. The asset, which is expected to be completed in 2020, will feature 70 furnished apartments with a total leasable area of 1,500m², and benefit from an underground parking facility. The seller is the Essen-based project developer List Develop Residential. The purchase price was not disclosed.
The property benefits from close proximity to Dusseldorf University and enjoys easy access by the public and private transport. The suburban train station Dusseldorf-Zoo is only a two-minute walk away. From there Dusseldorf central station is only a four-minute ride with the suburban train.
“In view of its strong economy, a large number of students and the high volume of commuters, Dusseldorf is excellently suited to a commitment in smart living,” explained Heiko Szczodrowski, the head of Asset Structuring Portfolio Management at Commerz Real.
