The KGAL/HI Wohnen Core 2 special fund advised by KGAL Investment Management GmbH & Co. KG sells a residential property portfolio consisting of three buildings in Düsseldorf-Rath, following a holding period of around five years. The buyer is Quantum Immobilien Kapitalverwaltungsgesellschaft mbH.
The residential complex in the popular Düsseldorf borough of Rath is comprised of 99 apartments with a total rental area of 8,500 m², as well as 98 parking spaces. The well-maintained 2013-built ensemble is within easy walking distance of public transport. The apartments, which are around 86 m² on average, each have a balcony or terrace. “We are delighted to have acquired this attractive and almost fully rented residential property in new-built quality for our investors, and to now be able to unlock further value enhancement potential with our experienced asset management,” commented Knut Sieckmann, Head of Residential Real Estate at Quantum.
“It has been possible to consistently reduce vacancy levels in the property bought for product development over the course of time, and therefore increase its value through various asset management measures,” comments André Zücker,
Member of the Management Board at KGAL Investment Management GmbH &Co. KG, with responsibility for the Real Estate sector.
Düsseldorf continues to grow, and completed new-build projects have been far from sufficient to cover demand for some years, despite a noticeable increase in construction activity. This shortfall ensures increasing rents and prices – trends
which were already foreseeable when the residential project was acquired in 2012. The ensemble of apartment blocks was an object in a special residential property fund made up of around 2,500 residential units in total, located in
important German metropolises. The fund is administered by HANSAINVEST as a regulated capital management company for services. The transaction was brokered by BNP Paribas Real Estate, Düsseldorf. It has been agreed that the purchase price will be kept confidential.