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Warburg-HIH Invest Real Estate has acquired 62 residential units belonging to a neighborhood development in Wedel near Hamburg from its developer, Bonava Wohnbau.
The property development at Rissener Strasse 99 and 101 in Wedel represents a new-build construction (meeting the KfW Efficiency House 55 standard) with a total leasable area of about 3,320 square meters (35,736 square feet), of which 70 percent is earmarked for subsidized housing. It also will create 26 car parking spots. Moreover, the investment includes a daycare center with an effective floor area of 630 square meters square meters (6,781 square feet). Completion of apartments and daycare is scheduled for second quarter 2024. The transaction took the form of an asset deal within the framework of a forward-funding arrangement on behalf of the Warburg-HIH Deutschland Wohnen Invest residential investment fund, which was launched this past spring.
Nadine Robra, team leader transaction management Germany at Wa
