Project Investment builds 156 apartments in Freising and Potsdam
Project Investment has acquired two development properties for its fund “Vier Metropolen III”. The first involves 7,313 sqm on Angerstraße in Freising, near Munich, to be developed with apartments. It has a sales volume of around €81mn. The second property involves 2,792 sqm on Potsdamer Straße in Potsdam, also to be developed with apartments. It has a volume of around €11mn. Project Investment is planning a total of 156 apartments at the two locations. The two acquisitions mark the opening of the investment phase of “Vier Metropolen III”; according to Project Investment, the first capital commitments of €25mn from two pension funds are already two-thirds invested or planned. The fund, aimed at institutional investors, is reported to have a target fund of up to €150mn.
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