HIH Invest Real Estate GmbH has launched an investment fund in collaboration with the Vonovia housing company. 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 more than €630 million ($695 million), with 11 of the properties sold by Vonovia and three by Quarterback Immobilien AG. The properties comprise a total leasable area of more than 127,000 square meters (1.37 million square feet) — 113,500 square meters (1.2 million square feet) of residential and 13,500 square meters (145,300 square feet) 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 thre
