DREFA – Deutsche Real Estate Funds Advisors s.a.r.l
DREF invests 60 million euros in student accommodation in Munich
DREF invests 60 million euros in student accommodation in Munich Luxembourg, 8 March 2016 – Deutsche Real Estate Funds (DREF) has acquired a residential complex in Munich with a market value of 60 million euros. The property comprises 215 student residential units and 130 apartments for young professionals. The first residential units are to be ready for occupation as of April 2016. The rents are 450 to 500 euros and thus – like many offerings of DREF – within the medium price segment. In addition to that, the property includes a test center, where exams for up to 400 students can be held, as well as a sports bar and a fitness room. With this acquisition DREF now has more than 3,200 student units in its portfolio. “We’re delighted that we’re now able to make affordable accommodation available to students in Munich as well. Munich certainly is the investment location in Germany that poses the greatest challenges when it comes to creating modern and, simultaneously, affordable living space. However, that is our objective at DREF – irrespective of the city in which we invest. Our expertise and the right concept have now enabled us to succeed in Munich as well,” says Felix Bauer, CEO and CSO of Deutsche Real Estate Funds Advisor. In the Bavarian state capital, the situation on the residential market is particularly tense. According to a study conducted by the Immobilienverband Deutschland Süd, a property association, regular rents have risen by over 50 percent within the last ten years. This also affects students as they frequently need to compete for affordable housing with regular tenants. In fact, the 15,000 students (winter semester 2014/2015) have fewer than 10,000 residential units by the Studentenwerke available to them. According to the relevant Studentenwerk in Munich, the waiting times for a unit in a student residence can take up to four semesters. About DREF Press contact HERING SCHUPPENER Folker Dries Tanja Dorr Email: dref@heringschuppener.com End of Media Release Issuer: DREFA – Deutsche Real Estate Funds Advisors s.a.r.l Key word(s): Real estate
2016-03-08 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. |