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Sign in Sign up for a FREE subscriptionHIH Invest launches new institutional fund for residential real estate, acquires 14 properties
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