HIH Invest and Vonovia buy 1,592 residential units

HIH Invest holds an interest in the fund via a regulated AIF and is the majority shareholder representing a club of institutional investors. Vonovia will handle the property management, while HIH Invest will act as asset manager and fund manager.

The fund acquired a total of 14 property developments and new-build structures with a combined investment volume of over €630m, with eleven of the properties sold by Vonovia, and three by Quarterback Immobilien AG. The properties comprise a total lettable area of over 127,000sqm, thereof 113,500sqm of residential and 13,500sqm of commercial floor area. 

Also included are 1,161 underground and surface-level parking spots.

The 1,592 residential units represent predominantly apartments of two or three rooms. In addition, the portfolio includes student apartments and age-appropriate housing. The properties are located in Berlin, Hamburg, Leipzig, Halle/Saale, Dresden, Konigs Wusterhausen, Boblingen and Offenbach.