Union Investment has acquired two planned micro-living properties in Düsseldorf and Hamburg comprising a total of 250 apartments. They are the sixth and seventh acquisitions for the Urban Living Nr. 1 special fund, which remains on a growth trajectory. The purchase prices were not disclosed.
“Düsseldorf and Hamburg are outstanding locations for micro-living investments. In both cities, demand from various user groups for functional furnished apartments is predicted to remain high well into the future. The two new acquisitions are therefore an excellent fit with the Urban Living Nr. 1 special fund portfolio. We expect our fund to grow further in 2020 and these acquisitions are a promising sign of things to come,” said Henrik von Bothmer, senior investment manager micro-living at Union Investment. The coronavirus pandemic has not changed expectations for the fund.
Von Bothmer added, “Although we don’t yet know what the long-term impact of the pandemic will be,
