Union Investment and Deutsche Asset One have launched a new Spezialfonds, Wohnen Deutschland Spezial, with a target volume of €750 million ($890 million).
Approximately €250 million ($297 million) in equity capital was accrued for the launch.
An initial portfolio was purchased with 2,200 apartments in Kronach, Berlin, and other locations, according to local media outlets.
The investment profile of the fund comprises existing and new housing in the entire federal territory with a focus on A- and B-cities as well as selected C-cities.
As part of the service mandate, Union Investment provides the KVG platform. Deutsche Asset One is responsible for deal sourcing, transaction management and asset management for the fund. Since the beginning of the year, the company has already acquired 4,500 apartments in Germany for various clients.
