CDC Investissement Immobilier acquired an existing residential building in Munich from a global investment manager on behalf of Caisse des Depots. LUWIN Real Estate (LUWIN) provided advice on the acquisition and will be responsible for the asset management.
The property is situated near the Hirschgarten park in the Neuhausen-Nymphenburg district, well-known for its castle, the former summer residence of the electors and later kings of Bavaria. It is conveniently connected to the city centre, approximately 20 minutes from Marienplatz door to door, due to its proximity to the city's main S-Bahn line and the network of cycle paths.
Built in 2008, the 6,200m2 building with 75 flats has a good ESG profile, boasting an EPC level B and is connected to Munich's district heating network, which aims for carbon neutrality by 2035.
This marks CDC Investissement Immobilier's second residential deal in Germany this year, following a partnership with Covivio on a portfolio of 8 properties located in the city centre of Berlin. Residential properties continue to be a significant part (around 30% of the portfolio) of CDC Investissement Immobilier’s investment strategy, led by its CEO, Arnaud Taverne, due to their resilience and stable cash flow.
Germany is a strategic market for the international diversification strategy being implemented by the team led by Lucas Mignot, Head of international investments, owing to its size, solid economic fundamentals, and the depth of its residential rental market.
This acquisition not only secures a multifamily property with an attractive and sustainable risk-return profile for CDC Investissement Immobilier but also expands the manager’s investor base, proving the growth path of LUWIN, led by its Managing Partner, Maximilian Schneidler.
Poellath, KPMG, Drees & Sommer, and CBRE advised us of the deal.
Image source - Pexels.
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