Fondhaus Hamburg has placed the FHH Immobilien 10 – Stadtquartier Freiburg fund with a total volume of €77.12m.
The fund is managed by Gesellschaft Fondhaus Hamburg Immobilien, a joint venture of Fondshaus Hamburg and Hochtief.
About €42m of the total amount is equity capital raised from several institutional and 730 private investors.The FHH Immobilien 10 – Stadtquartier Freiburg has a lifespan of 14 years and is expected to generate an annual return of 5.25%.
The fund invests in a mixed-used complex in Freiburg comprising residential and retail space. The complex is part of the new city quarter Westarkaden, located between Freiburg’s West and the city centre, that contains five projects.
FHH Immobilien 10 has bought into three central buildings of the newly developed city quarter. The acquired buildings contain 200 flats comprising about 14,000 m2 of lettable space and 11,000 m2 of retail space. Among the tenants are shoe retailer Deichmann, food retailer REWE and chemist dm.
