Stuttgart/Frankfurt, 14.12.2022 – AIF Capital Group, specialist for regulated alternative investment funds, has acquired a residential ensemble in Frankfurt am Main. The purchase was made for the “AIF Lebensquartiere I”, an open-ended special fund that is classified under Article 8 of the EU Disclosure Regulation and thus has environmental and social characteristics in its investment terms. Launched in April this year, the vehicle is reserved for institutional investors and has a target volume of EUR 300 million. It invests in mixed-use, sustainable, inner-city neighborhoods with a focus on housing. The transaction, which has now taken place, was structured as an asset deal; the seller is Panorama Residenz Ostparkstraße GmbH, a project company of VK Anlagen GmbH based in Mainaschaff. The parties have agreed not to disclose the purchase price.
The complex comprises three interconnected buildings with a total of 175 apartments, most of which are one- or two-bedroom apartments. In addition, there is a commercial use in the area of serviced apartments with 16 units. These units are operated by a Berlin-based company specializing in this segment. 81 parking spaces complete the ensemble. The total leasable area is around 6,300 m2, divided into 5,650 m² of residential and 650 m² of commercial space. While two parts of the building have been partially refurbished over the past few years, the third module, a former office tower, has been gutted, generally refurbished to new construction level KfW 55 and converted into residential units between 2019 and 2022.
Daniel Wolf, Managing Director of AIF Management GmbH, says: “With the purchase of the residential ensemble in Frankfurt, our Article 8 fund acquires the first property in a top 7 city in Germany and secures its second investment. This sustainable investment in a city with high demand for residential space and in an attractive location fits perfectly into the investment strategy of the “AIF Lebensquartiere I” and continues the sustainable development of the portfolio. Our transaction pipeline also continues to be well filled, whereby we will continue to focus our attention on urban quarters as well as properties with a slightly higher commercial share [in the future].”
The building ensemble is located on the border between Frankfurt’s Ostend and Bornheim districts and is excellently connected to public transport as well as to the long-distance rail network via the Ostbahnhof station, which is within walking distance. Social facilities, stores for daily needs and various leisure facilities are also located in the immediate vicinity. The headquarters of the European Central Bank is only about one kilometer away.
AIF Capital was legally advised on the purchase by GSK Stockmann Rechtsanwälte Steuerberater. CBRE was responsible for the technical and ESG due diligence. The transaction was brokered by Evolution Immobilien GmbH, a company of the Wältermann Immobilien Group from Oberhaching.
In addition to the fund “AIF Lebensquarttiere I”, AIF Capital Group is active with several other funds in areas related to current megatrends. For example, AIF invests in care and social real estate, parking management, food retail and sustainable infrastructure, for example in the renewable energy sector.
Source: Panorama Residenz Ostparkstraße GmbH
About AIF Capital Group
AIF Capital Group is a real estate manager and specialist in regulated alternative investment funds for institutional investors. As investor, trustee, KVG with BaFin license and asset manager, the company offers investors high-yield and sustainable real estate investments. The company is a member of the ECORE and ICG sustainability initiatives and is a signatory of the UN PRI. The group of companies was founded in 2006 in the private bank Ellwanger & Geiger and was fully acquired in 2017 as part of a management buyout. The company pursues the goal of making classic real estate asset management innovative and dynamic, while offering a high quality of service. The group employs 43 people, has equity of 5.6 million euros and currently manages assets (AUM) worth around € 1 Billion.
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