Real I.S. AG has acquired a residential development of 101 apartments in Deggendorf, Lower Bavaria, in a forward deal on behalf of the Regionalfonds Suddeutschland real estate special AIF. The development on Alois-Schraufstetter-Straße comprises eight free-standing, four-storey buildings and 152 car parking spaces. The first and second construction phases are scheduled for completion in 2020 and the third phase will be completed in 2021. ERL Immobiliengruppe is the scheme’s developer and seller. The Deggendorf scheme is Real I.S. AG’s second residential acquisition for Regionalfonds Suddeutschland and follows the purchase of the Milaneo shopping centre in Stuttgart. The purchase price was not disclosed.
Each of the development’s eight buildings will comply with barrier-free access standards and are equipped with elevators, extra-wide doorways and wheelchair accessible bathrooms. The apartments have also been designed to meet the needs of older residents with a dedicated communications infrastructure for medical emergency calls. Alois-Schraufstetter-Straße is ideally situated for public transport and vehicular access via the A3 and A92 motorways, two bus stops and Deggendorf’s main railway station.
“Deggendorf has a dynamic property market and all forecasts point to healthy economic and population growth”, explained Axel Schulz, Global Head of Investment Management at Real I.S. AG, who added: “With the acquisition of this residential development, we are responding to the growing regional demand for housing in general and age-appropriate and barrier-free apartments in particular”.
Markus Erl, Managing Director of ERL Immobiliengruppe, commented: “The transaction proceeded smoothly and we are already looking forward to working together on future joint projects”.
