Union Investment buys 170 micro apartments in Dresden
Union Investment is buying a micro apartment complex currently under construction in Dresden. The project on Grunaer Straße 20 includes 170 units with about 6,000 sqm lettable. The seller is Berlin-based developer Grundstein Bauträger, who plans to finish construction of the new building by the end of this year. Union Investment was advised by GSK Stockmann and ES EnviroSustain, and will be adding the micro apartments to the Spezialfonds “Urban Living Nr. 1”, which will then be invested in 4 assets. The seller received commercial advice from Breim GmbH and legal consulting from Knauthe Rechtsanwälte.
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