Hannover: Commerz Real buys apartments for €36mn
Commerz Real has spent €36mn on the student dormitory “Hain114” and the neighboring seniors’ residence in Hanover. The seller of the properties on Schulenburger Landstraße 114 and Voltmerstraße 71c is Aragon Immo Project. The assets will be added to the portfolio of the “CR Institutional Smart Living Fund”. The deal was brokered by FIH Fürst Immobilien Hannover. The buyer was advised in legal matters by Noerr, the seller by Gregor – Fürst – Steinig, Hannover. The seniors’ residence was finished in late 2018; the student dorm is to open by winter semester 2021. Cube Life, a subsidiary of Cube Real Estate based in Leverkusen, was mandated to manage both properties. The 13-story “Hain114”, built according to plans by Max Dudler, will have 241 furnished units with 5,750 sqm living space and offer housing for 255 students. The neighboring seniors’ residence consists of a building with 27 barrier-free apartments and eleven parking spaces.
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