Union Investment/ZBI residential fund buys 750 apartments
The open-ended mutual real estate fund UniImmo: Wohnen ZBI has acquired approx. 750 apartments in the last three months for €82.3mn, most of them acquired in three portfolio transactions. The largest deal was a portfolio with 380 apartments, predominantly in Hanover. The fund also acquired a package with over 150 apartments on Wiener Straße near the Großer Garten in Dresden as well as a portfolio with around 170 units in Essen and Dortmund. These acquisitions bring the one-year-old fund’s real estate assets to €882mn, and its volume to €962mn. The fund was launched by Union Investment and ZBI in July 2017.
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