Berlin-based Capital Bay GmbH has acquired a residential and commercial property in Ahrensburg near Hamburg from GfG Hoch-Tief-Bau-GmbH Co. KG from Henstedt-Ulzburg in a forward deal. This is the second project Capital BAY has secured as a private placement for a pension fund.
The building with a total lettable area of around 3,060 m² is located on the "Erlenhof-Süd" site. It comprises six commercial units on around 900 m² and 48 residential units - seven of which are suitable for senior citizens and 30 furnished flats for students and trainees. Construction of the project began in October 2018 and is scheduled for completion in January 2020.
Capital BAY had already secured a 4,600 m² residential and commercial property at the same location in February, which will be completed in November 2018. Ralph Ziegler, Managing Partner of CB Transaction Management GmbH, says: "With our second forward deal in Ahrensburg, we are continuing our growth strategy in the residential segment, especially in the micro-living sector. The transaction has confirmed our assessment that the market demand for high-quality residential properties in Germany remains very high. The commercial space increases the quality of supply in this attractive new residential neighbourhood. As a fast and reliable partner, we were able to win the deal in our favour."
Ahrensburg is located just under 30 kilometres north-east of Hamburg city centre. With over 34,400 inhabitants, it is the largest town in the Stormarn district. Ahrensburg has a direct connection to the A1 motorway, is on the railway line between Hamburg and Lübeck and is connected to the Hamburg public transport network by underground.