Commerz Real has acquired a residential complex “Seetor Living”, which is to be newly constructed in Nuremberg-Mogeldorf with 97 residential units, from the project developer GBI for its open-ended real estate fund hausInvest. The purchase price was not disclosed. With a total leasable area of approximately 6,000m² over six storeys, it is part of the “Seetor City Campus” quarter development which covers nearly 20,000m² and which encompasses not only additional apartments but also office and hotel buildings. The construction of “Seetor Living” is scheduled to begin in January 2021, with the first tenants being able to move in during the second half of 2022. All the apartments will have a patio, loggia or a balcony; in addition, 39 underground parking spaces are planned.
“With its excellent location and the focus on subsidised accommodation ‘Seetor Living’ ideally suits our fund strategy with its orientation to social sustainability,” said Maja Procz, Global Head of Transactions at Commerz Real. Thus the complex is situated in the immediate vicinity of the recreational area at the Wohrder See reservoir and has local public transport connections to the city’s historic centre and the main railway station. In the neighbouring area, there are also creches, nurseries and kindergartens, as well as schools. Moreover, the apartments are intended for tenants who do not exceed certain income levels under the Bavarian Social Housing Act.
