Warburg-HIH Invest Real Estate GmbH has acquired a residential development in Hanau, Germany, on behalf of its institutional fund, Warburg-HIH Deutschland Wohnen Invest. The property was sold by property developer Kleespies.
The property is located in the district of Lamboy and will provide 78 residential units on a total leasable area of around 6,460 square meters (69,535 square feet). The four residential buildings to be created on Chemnitzer Str. 8 and Francoisallee 6-10 will be supplemented by 96 underground car parking spots. Completion is scheduled for fall 2023. Warburg-HIH Invest acquired the property through an asset deal within the framework of a forward funding arrangement. It was agreed not to disclose the selling price.
“Mere weeks after launching our latest residential investment fund, we were able to buy an attractive seed portfolio through this acquisition. Moreover, we contractually secured follow-up acquisitions with price tags in the triple-digit m
