Barings has acquired its first European single-family housing build-to-rent (BTR) scheme in Osnabrück, Germany, on behalf of a core strategy. The scheme, which is part of the Landwehrviertelregeneration project and comprises a total of 9,150 square meters (98,490 square feet), 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 square meters and 170 square meters (1,506 square feet and 1,830 square feet) of living space over three floors and each includes a garden, parking unit and roof terrace. Construction will start in August 2022 and 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-
