ONE GROUP expands product portfolio with first special AIF for existing properties
July 15, 2022
Berlin, Hamburg, July 15, 2022 – ONE GROUP has expanded its product portfolio with the launch of its first alternative investment fund (special AIF) for existing properties. ProReal Kapstadtring Hamburg is designed especially for semi-professional and institutional investors and launched with the acquisition of an ensemble of buildings on Kapstadtring in the City North submarket of Hamburg, Germany. The fund, with a total equity volume of €21.15 million, acquired the properties in March 2022. The fund has concluded a 15-year lease agreement with the innovative, technology-driven, serviced apartment operator numa. The fund forecasts annual distributions of between 4.5 and 5.0 percent. The planned term of ProReal Kapstadtring Hamburg ends on June 30, 2033. ONE GROUP GmbH will retain a 10.1% stake in the property company.
The building complex comprises a 12-story main building with a total of 143 serviced apartments, plus ancillary buildings, and an underground parking garage with 50 spaces. In addition, the property also has 93 outdoor parking spaces. The property has a net internal area of 8,867 sqm and is located on a 5,174-sqm site. The property will be leased and operated by numa Group GmbH from July 1, 2022 for a period of 15 years, plus a 5-year extension option.