HanseMerkur Grundbesitz AG acquires Green Valley residential project development in Bad Vilbel
• 7,400 m² rental space with 102 residential units
• Acquisition as a forward deal for the open special fund HMG Grundwerte Wohnen PLUS III
• Completion planned for the second quarter of 2024
Hamburg, August 3, 2021. HanseMerkur Grundbesitz AG (HMG) has acquired the Green Valley residential project development on Fraunhoferstrasse in Bad Vilbel as part of a forward deal for the open-ended real estate special fund HMG Grundwerte Wohnen PLUS III. The seller is the project developer Nata Real Estate, Frankfurt am Main, who developed the project and is implementing the construction of the property. A total of 102 residential units will be built on around 7,400 m² of rental space in the five-storey residential complex. In addition, 113 underground parking spaces and 40 outside parking spaces for cars and bicycle spaces as well as 23 e-charging stations are planned. The property is expected to be completed in the second quarter of 2024 and transferred to the fund. The aim is to achieve the KfW 55 standard. The parties have agreed not to disclose the purchase price.
Henning Schneider, Investment Manager at HMG, explains: “We were able to secure the residential project for our investors at an early stage. With the previous acquisitions iLive in Stuttgart and YOURS. In Hamburg we were able to secure very convincing properties for the fund from a sustainability point of view. ”A total fund volume of 400 million euros and a target dividend yield of 3 to 3.25 percent per year are being strived for.
The Green Valley residential complex will offer high quality apartments of 40-106 m². It is located in a well-developed environment with daycare centers, schools, parks and playgrounds as well as local amenities. As a residential location in the immediate vicinity of Frankfurt am Main, Bad Vilbel is particularly popular with commuters. The Bad Vilbel S-Bahn and regional train station can be reached on foot in around six minutes. From here you can take the train to Frankfurt Central Station in around 15 minutes. It is also just under 20 minutes by car to downtown Frankfurt.
About HanseMerkur Grundbesitz AG
HanseMerkur Grundbesitz AG bundles all real estate activities of the HanseMerkur Insurance Group under one roof. It is responsible for the management of a significant, steadily growing real estate asset and is establishing special real estate funds and financing funds in which, in addition to the HanseMerkur Insurance Companies, other institutional investors can participate. Further information at www.hmg.ag.