Commerz real buys micro-apartment project in Germany for smart living fund

Commerz Real Capital Management has purchased a planned micro-apartment complex in Darmstadt, Germany, for its Commerz Real Institutional Smart Living Fund.

The open-end special alternative investment fund is currently investing in six student-housing and micro-apartment complexes in Germany, according to Commerz Real. The acquisition was structured as a forward-funding agreement with an undisclosed purchase price.

The complex, which will be located at Im Haardtring 15 in the Darmstadt West district, will provide 368 apartments as well as 93 underground car parking spaces and 360 bicycle stands, spanning 9,000 square meters (96,875 square feet). It is expected to be completed by fall 2021.

The residential complex is close to Darmstadt University and the central station, with the city center and Darmstadt Technical University also located nearby.

“As a university city with a large number of research facilities, a dynamic economy and its proximity to Fran