MPC Capital acquires new construction project in Hamburg for ESG Core residential real estate fund
24 Mar 2022
Hamburg, 24 March 2022 – Asset and investment manager MPC Capital has acquired a new construction project from the Hamburg-based Behrendt Group for its ESG Core Wohnimmobilien Deutschland fund. The apartment building with 22 residential units and 11 underground parking spaces is being built as part of the "Albertinenhof" development project in Hamburg-Schnelsen. It is scheduled for completion in the first half of 2023. The total investment is around EUR 12 million. Hamburg-based broker Hinsch & Völckers Immobilien acted as advisor in the transaction.
Located on the northeastern border with Schleswig-Holstein, Schnelsen has developed into a district that is particularly popular with families, offering a wide range of local recreational opportunities and leisure activities. At the same time, the center of Hamburg can be reached quickly via public transport and the A7 motorway, which is underpassed in the Schnelsen area. Schools, kindergartens, shopping facilities and the Albertinen Hospital are in the immediate vicinity.
ESG Core Wohnimmobilien Deutschland was launched at the end of 2020 together with Universal Investment as an open-ended special AIF with fixed investment conditions. The 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 primarily targets new buildings.
ESG Core Wohnimmobilien Deutschland is one of the first financial products in the real estate asset class in Germany to be approved as a financial product under Article 8 of the Disclosure Regulation. The total investment volume is expected to amount to around EUR 300 million. The equity capital of currently EUR 140 million comes from German institutional investors.
The "Albertinenhof" in Schnelsen is the fourth property in the fund. Other properties are located in Pinneberg near Hamburg, in Bad Nauheim near Frankfurt and in Münster.
About MPC Capital (www.mpc-capital.com)
MPC Capital AG is an internationally active asset and investment manager specialising in real asset investments. Together with its subsidiaries, the company develops and manages investment products for international institutional investors, family offices and professional investors. Its focus is on the asset categories Real Estate, Shipping and Infrastructure. MPC Capital AG has been quoted on the stock exchange since 2000 and has around 200 employees group-wide.
About Universal-Investment (www.universal-investment.com)
The Universal-Investment Group is one of the leading European fund management services and Super ManCos with around 710 billion euros, more than 1,900 mutual and special fund mandates, and more than 1,000 employees at the locations Frankfurt am Main, Luxembourg, Luxembourg, Dublin and Krakow. Founded in 1968, the company is an independent platform offering fund initiators and institutional investors structuring and administration solutions as well as risk management for securities, real estate and alternative investments. The companies UI Labs, UI Enlyte and CAPinside round off the group's innovative service offering. The company is a signatory of the UN Principles of Responsible Investment and a member of the Forum Nachhaltige Geldanlagen e. V. (Sustainable Investment Forum). (as of 30 September 2021)
MPC Capital AG
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Investor Relations & Corporate Communications
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Head of Investor & Public Relations
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