The complex of approximately 7,600 m² consists of 48 privately financed and 29 subsidised apartments and will be built within a newly emerging residential area. The modern designed and light apartments range between approximately 45 m² to 112 m², each with its own terrace or balcony, and will have two to five rooms to accommodate up to five people. The buildings will have their own underground car park with a total of 64 parking spaces.
The project is located in a green and quiet residential area of Dortmund. Shops and numerous medical practices are only 500 meters away, with several kindergartens and school facilities within a kilometre for different age groups. Local public transport connections are very good, with a bus stop nearby and the metro and S-Bahn overground stations also within walking distance. The close proximity to the nearby A 45 motorway also offers a fast connection to the regional and national road network.
Victor Ghalayini, Acquisition Manager at Primevest CP, said: “The demand for subsidised housing in Dortmund is very high, with limited supply available, so we are pleased to be part of the solution to the city’s housing problem. Since 2013, the population of Dortmund has grown by around 3.5%, due largely to the number of young students and professionals who have moved to the city to work or study. It is difficult for this group of 18 to 30-year olds to find modern and affordable housing and therefore our focus in this project is on two to three-room apartments, which are the most sought after.”
The residential buildings will be built to the energy-efficient KfW (BEG) 55 EE standard to attain a class A energy certification. The underfloor heating of the apartments will be partly supplied from renewable energy sources .
The city of Dortmund is located in the centre of the state of North Rhine-Westphalia on the northeastern edge of the Ruhr region. Dortmund has approx. 600,000 inhabitants and is the largest city in the Ruhr and an important economic and commerce centre and transportation hub. The city is a favoured location for mid-sized business in sectors such as logistics, IT, science, healthcare, biomedical, micro and nanotechnology. Dortmund’s Technical University has around 35,000 students.
REIUS Rechtsanwälte (LDD), Management & Advisory GmbH (TDD) and DGI Real Estate were commissioned for the due diligence (DD) on the project.
About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specialises in investments in innovative real assets. At Primevest Capital Partners, our vision is to help our clients to provide for their sustainable financial future through investing in the future of our cities by delivering sustainable urban living, improving connectivity, and enabling mobility. Our investment philosophy and vision are energised by the current trend of urbanisation and the ability to fulfil the modern needs of metropolitan communities, while enhancing the quality and sustainability of people’s lives.
From our offices in Utrecht, Eindhoven and Berlin, a team of 70 professionals manage €2.8 billion of assets including six sector-focused funds, three individual institutional mandates and a portfolio of approximately €0.9 billion in investments targeting private and institutional investors as well as family offices following the acquisition of Holland Immo Group. Primevest Capital Partners is part of the Primevest Capital Partners Holding B.V.
For more information, please contact:
Primevest Capital Partners
Lisette van der Ham
Head of Marketing & Corporate Communications
T: +31 6 832 005 61
lisette.vanderham@primevestcp.com
www.primevestcp.com