Nova Ambiente provides EDD support to AEW for the acquisition of a residential portfolio

AEW has announced the launch of a new fund aimed at building a diversified residential property portfolio through the acquisition of rental properties in well-established and liquid German markets. AEW will establish and manage the fund, drawing on its almost 40 years' experience in European residential property investment and asset management. The company is confident in this asset class due to its robust long-term supply and demand fundamentals.

The fund has already successfully acquired a portfolio comprising around 30,000 sq m of lettable area, consisting of over 300 flats in four central German cities: Berlin, Düsseldorf, Dresden and Potsdam. The well-positioned properties, mainly constructed after 2012, are almost completely let, generate immediate income and offer the potential for rental growth and capital appreciation. This acquisition forms the basis of a portfolio that aligns with the fund’s strategy.

The fund’s objective is to build a Germany-wide portfolio of established residential rental properties and implement a significant investment programme. AEW has already identified an extensive pipeline of further acquisition opportunities that meet the fund’s investment criteria. In addition to the successfully secured seed investment, further core portfolio properties, potentially including segments from the new-build and subsidised housing sectors, are set to be acquired shortly for the ^club approach.

AEW was supported in environmental matters by Ambiente Deutschland GmbH.

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