MPC Capital acquires new construction project near Berlin for ESG Core Residential Real Estate Germany
12 Jan 2023
Hamburg, January 12, 2023 - In December, asset and investment manager MPC Capital acquired a new construction project in Nauen in the Berlin metropolitan region for its "ESG Core Residential Real Estate Germany" fund. The project is being built to KfW-40 EE standard and meets extensive ESG criteria, which are a prerequisite for an investment by the fund.
The project comprises seven multi-family buildings with a total of 106 residential units and 127 parking spaces. The rentable living space amounts to around 8,600 m2. Completion is scheduled for the end of 2024. The investment volume is around EUR 38 million.
Nauen is a growing city in Berlin's metropolitan area and has all facilities for daily needs, various educational institutions, cultural and medical facilities. Berlin's main train station can be reached in about 40 minutes by regional express. Berlin-Spandau station can be reached in 20-25 minutes.
Christoph J. Thumm, Managing Director Real Estate at MPC Capital: "We are very pleased to acquire this project for our fund in a challenging market environment. It has successfully passed our ESG scoring process and fits ideally into our portfolio. We are convinced that even in a tight overall market, energy-optimized residential real estate projects in metropolitan locations of major German cities will enjoy sustained success. They offer a good balance between affordable housing and stable returns."
ESG Core Wohnimmobilien Deutschland was launched at the end of 2020 together with Universal Investment as an open-ended special AIF with fixed investment terms. The Article 8 fund invests exclusively in real estate projects that meet a comprehensive catalog of quantitative and qualitative sustainability criteria.
For example, the locations and properties considered for purchase must meet specific requirements based on energy, social and corporate ethics aspects. These include, for example, compliance with energy standards, the integration of mobility concepts, and the proportion of subsidized and low-barrier housing. Due to the high requirements for energy standards, the fund will primarily consider new buildings.
The seller is the Gronau-based developer Vastbau. Engel & Völkers Commercial advised the seller and buyer. GSK Stockmann and CP Hamburg provided legal and technical support for the transaction.
About MPC Capital (www.mpc-capital.com)
MPC Capital is a global asset and investment manager for real assets in the areas of real estate, renewables, and shipping. Its range of services includes the selection, initiation, development and structuring of investments, through active management to divestment. With approximately 200 employees and over 25 years of experience, MPC Capital offers institutional investors access to investments in selected markets with attractive growth and return opportunities. As a responsible company with a family background that has been listed on the stock exchange since 2000, MPC Capital contributes to meeting the financing needs to achieve global climate goals.
About Universal-Investment (www.universal-investment.com)
The Universal Investment Group is one of Europe's leading fund service platforms and Super ManCos with around EUR 950 billion in assets under administration, about 2,000 fund and investment mandates and a workforce of more than 1,600 at locations in Frankfurt am Main, Luxembourg, Dublin, London, Paris, Hamburg, and Krakow. Founded in 1968, the company is an independent platform for asset managers as well as institutional investors offering structuring and administration solutions as well as risk management for Securities, Real Estate and Alternative Investments. The companies EFA, UI labs, UI Enlyte and CAPinside complement the group’s innovative service offering. Universal Investment is a signatory of the UN Principles of Responsible Investment (as of November 2022).
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