Tikehau Capital and German residential company Forte have acquired a portfolio of five properties across Frankfurt am Main, Düsseldorf, Cologne and Bonn from Munich Re’s asset manager MEAG.
The acquired portfolio, which comprises approximately 24,110sqm of lettable area and around 300 residential units, was acquired for an undisclosed amount.
Global asset manager Tikehau Capital is making the investment through its pan-European value-add real estate strategy. The latest transaction marks the firm’s sixth fund deal in Germany and its second collaboration with Forte under a multifamily residential joint venture.
Tikehau Capital and Forte said they intend to refurbish the recently acquired properties to improve energy efficiency and sustainability standards.
Steffen Meinshausen, head of real estate Germany at Tikehau Capital, said: “This acquisition is another important milestone for our German real estate business and underscores our commitment to long-term urban development. The project is part of our pan-European value-add real estate strategy, through which we sustainably develop buildings and living spaces.
“With Forte, we have a competent partner by our side who has a strong track record in developing existing properties.”
Felix Väth, head of transactions at Forte Capital, said: “We are very pleased to develop the properties through targeted modernisation measures and orient them towards the future in our second joint venture deal with Tikehau Capital. This addresses the growing need for affordable housing and contributes to urban development.”
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