Barings has acquired its first European single-family housing build-to-rent scheme in Osnabruck, Germany, on behalf of a core strategy. The scheme, which is part of the Landwehrviertel regeneration project and comprises a total NLA of 9,150m², was acquired from ANIMA Projektentwicklungsgesellschaft, the development arm of Hamburg-based VIVUM Group, in an off-market transaction.
The project called “Mien Huus” encompasses 59 townhouses that range between 140 and 170m² of living space each over three floors and include a garden, a parking unit and a roof terrace. Construction will start in August 2022; completion is expected in 2024. The houses are predominantly targeted at mid-level income groups, while some units will be delivered as affordable housing. They will be built to high energy efficiency standards (KfW 40 plus) and receive electricity and heat supply from a climate-friendly combined heat and power plant within the district. In addition, each townhouse is equipped with photovoltaic panels. The architectural design comes from ASP-Architekten based in Hamburg and Hanover and was chosen in a competition.
The project is part of the Landwehrviertel, a 37-ha urban quarter development on the former site of a British army base, which will offer new homes for more than 1,200 people in over 800 residential units upon completion and will be connected to the city centre of Osnabruck by a regular bus service. With around 165,000 inhabitants, Osnabruck is a strong regional centre between Bremen and Dortmund and is well connected to other nearby cities such as Münster, Bielefeld, Hannover or Hamburg.
Sascha Becker, Managing Director and Country Head Germany at Barings, said: “Mien Huus will be excellently placed to provide housing for mid-level incomes in a new urban quarter that has been designed with sustainability at its heart from the outset. Green spaces, energy self-sufficiency, excellent public transport links and high-quality fixtures are set to attract a host of residents, particularly young families.”
Gunther Deutsch, Managing Director and Head of Europe Real Estate Transactions at Barings, added: “With a pronounced demand for modern housing in economically successful regional cities such as Osnabruck, we expect Mien Huus to become a strong investment for our core strategy. We are looking for further opportunities in the BTR segment across our target markets in Europe, which apart from Germany also include the Nordics, the Netherlands, France, the UK, Italy and Spain.”
Dr Mark Maurin, Partner at VIVUM and Project Head at ANIMA, commented: “An ESG strategy and sustainability have been at the heart of our deliberations from the beginning of the project. Sustainability covers a host of concerns in this case, not only the high energy efficiency of the buildings. A central urban gardening area or technical connections for charging poles are creating a real added value for the environment and the residents.”
