Assetando buys subsidized housing in Matrix project near Hamburg
Assetando has acquired three lots in the “ILO-Park” project in Pinneberg near Hamburg from developer Matrix Immobilien. The lots totaling about 4,600 sqm are to be used for building about 75 apartments by the summer of 2021. The units will be subsidized by investment bank IB Schleswig-Holstein. Assetando is working on the project with SG Bau und Immobilienvertriebs GmbH. Apart from fund and asset management, investment in publicly subsidized housing development is one the core activities of Assetando, which is part of Ernst Russ Group. Matrix is planning to develop 400 apartments, a hotel, and other commercial spaces in three construction phases on the 7.5 ha site near the Pinneberg station.
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