The Commerz Real open-end real estate fund Hausinvest has plans to move into residential investment, spending approximately €2 billion ($2.3 billion) on housing over the next five years, in partnership with residential specialist, Wertgrund Immobilien.
“Residential real estate is a very interesting asset class and excellently suited to further diversifying the portfolio of hausInvest,” said Andreas Muschter, CEO of Commerz Real.
As the two companies announced, Wertgrund will accompany the transactions, and be responsible for the entire asset and property management. The purchase decision and the fund management remain the responsibility of Commerz Real.
Investments are to be made not only in existing properties, but mainly in new larger construction projects with a minimum volume of approximately €50 million ($57 million) in German metropolises as well as in growing medium-sized and university towns. In this respect, the focus is on affordable reside
