Heitman has acquired a portfolio of rented-residential properties diversified across three German metropolitan regions that include Hamburg, Frankfurt, and Cologne and Dusseldorf. The portfolio consists of 285 residential units, eight commercial units, and 132 parking spaces, with more than 17,000m² of lettable space. The properties are well located in their respective regions and stand to benefit from ongoing demographic trends occurring in Germany. The purchase price was not disclosed.
“We are pleased to add these assets to our pan-European portfolio,” said Tony Smedley, Heitman Managing Director and Head of European Private Equity. “We are focused on strategies that will benefit from drivers that are delinked or less sensitive to economic and market volatility and are supported by long-term structural fundamentals. This portfolio is consistent with our strategy in the Living Sectors and positions our portfolios to capture long-term growth, while also providing defensive characteristics during this stage of the cycle.”
