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- November 1, 2012: Vol. 6, Number 10

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Aberdeen Launches German Residential Fund

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1 Aberdeen Asset Management has launched a German residential property fund for institutional investors. The fund, Städte und Wohnen, has raised initial seed capital of €115 million. Over the coming years, the fund plans to invest around €1 billion, gross. The fund’s lead manager is Daniel Dreyer. Its initial portfolio consists of four properties in Berlin, Frankfurt, Hamburg and Karlsruhe comprising a total of 350 rental units that are virtually fully let. Städte und Wohnen has also acquired a new property with some 120 rental units in Heidelberg. In addition, the contract for the phase of a residential property project in Munich comprising more than 100 apartments has been signed. Completion of this project is scheduled for the end of 2012.  

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