12 November 2018
Unilmmo: Wohnen ZBI residential fund breaks through the EUR 1 billion barrier
Germany’s largest residential-focused real estate fund continues to grow. In October and November, properties comprising a total of 6,317 rental units and with a purchase value of around EUR 500 million were transferred to the holdings of UniImmo: Wohnen ZBI. Just 15 months after it was launched, the Unilmmo: Wohnen ZBI fund created jointly by Union Investment and the ZBI Group has now far exceeded the EUR 1 billion mark. With current real estate assets of some EUR 1.4 billion, comprising approximately 19,600 units across 13 German states, Unilmmo: Wohnen ZBI has further consolidated its leading position among German residential funds.
On 1 November, two large portfolios with a total of 4,748 rental units were transferred to Unilmmo: Wohnen ZBI. The smaller of the two newly transferred portfolios contains 1,201 units spread across six German states. The portfolio is focused primarily on North-Rhine Westphalia, with the properties located in eight cities from Bielefeld and Duisburg to Oberhausen, thereby ensuring broad diversification. The second real estate package is a sub-portfolio of 3,547 units. The real estate assets are mainly located in northern Germany, in the towns of Heiligenhafen, Rendsburg and Ratzeburg. The portfolio has a high occupancy rate and is in a good state of repair. The transaction is one of the largest for Unilmmo: Wohnen ZBI so far in terms of value.
UniImmo: Wohnen ZBI was launched jointly by Union Investment and ZBI in July 2017. It focuses on properties that offer affordable living space for the wider population, with medium to high amenity value. Geographically, the fund is open to investment opportunities throughout Germany.