Bremen Technology Park: Savills advises on sale of micro-apartments and student apartments to Catella

06 April 2018

Two developments on the City of Bremen’s university premises on Anne-Conway-Straße have changed hands.

Catella Real Estate AG has acquired the two phases, which will be developed with 215 micro-apartments and 318 student apartments providing a gross floor area of approximately 26,000 sq m, for two funds. The first phase has been transferred to the open-ended retail AIF “Catella Wohnen Europa” while the second phase was acquired for the open-ended special AIF “Catella European Student Housing Fund”. The vendor was Zech Group from Bremen, which was advised by global real estate services provider Savills during the sale process.

“This deal provides further evidence of the significant investor demand for micro-apartments and student apartments,” says Sascha Hanekopf, Director of Investment for Savills in Hamburg. “Both student numbers and transaction volumes in the segment continue to break records.”

Investment throughout Germany last year totalled more than one billion euros for the first time, with 810 million euros exclusively attributable to student accommodation. The 7,300 sq m student property is scheduled for completion in Q3 18, while the 13,700 sq m micro-apartment property will initially be used as refugee accommodation before subsequently being occupied by students. The first phase has already been handed over to the City of Bremen, which has agreed a 10-year lease with an option to extend for a further five years.

 
 

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Key Contacts

Sascha Hanekopf

Sascha Hanekopf

Director
Investment

Savills Hamburg

+49 40 309 977 141