“Over the past four years we have invested around EUR 500 million in residential properties in four European countries under this German pension fund client mandate. The Danish and Dutch investments represent a geographical extension of the portfolio and are aligned with our focus on growing cities and regions that have sound demographic and economic prospects, coupled with an attractive real estate risk-reward profile. By investing in modern residen- tial concepts, such as those that combine serviced apartments for businesses and senior housing, we are ‘future-proofing’ our investments against the rapidly expanding and evolv- ing demand for new forms of housing and living concepts,” says Matthias Bursi, Manager of the CRIM European Residential Fund.
The investment in the eastern Danish coastal city of Aarhus, is in a project development of apartments with a ‘townhouse character’ encompassing a total of 101 homes. The leafy surroundings and good accessibility of the location are expected to particularly appeal to families. The project was developed and sold by a consortium of local developers consist- ing of a building contractor and two private equity companies.
In the southern Dutch city of Tilburg, CRIM has acquired a former nunnery converted into an apartment building, with a new residential property added to it in 2017, and located at the heart of the new district centre in Koningsoord. The innovative residential concept, with a total of 99 apartments, is aimed at senior citizens and young professionals and also houses a kindergarden, a restaurant, and an administrative office for residents.
The turnkey project development in Hamburg’s HafenCity is located in the Baakenhafen district and was sold by Garbe Immobilien Projekt GmbH. The building consists of 93 subsidised and private-rental apartments. On the ground floor, there are plans for a shop- in-shop area where local manufacturers will be able to display and sell high-quality hand- crafted products.
“We have also added one of Ger- many’s top locations to the portfolio with the project development in Hamburg’s HafenCity district. We are very proud to have this opportunity to implement an attractive project on one of the last free construction sites in HafenCity in cooperation with a re- spected local project developer and to play a small role in shaping Hamburg at this high- profile location,” Michael Keune, Managing Director at CRIM.