Hamburg-based investment, asset and fund manager HT Group has taken over the 7,350 sqm housing estate “Wohncampus Reinighaus” in Graz in southern Austria. The recently completed asset was secured in a forward funding deal with developer BE-WO Wohnbau- u. Grundstücksverwertungsgesellschaft mbH for an open-ended Special Fund for institutional investors. The parties agreed not to disclose the purchase price.
The property at UNESCO-Esplanade 4 and 6 encompasses 133 residential units with 6,840 sqm GLA, three commercial units with 510 sqm on the ground floor as well as an underground parking deck with 142 spaces. The complex consists of a five- and a ten-storey building part with green roofs and facades. All flats include open spaces either in gardens, on balconies or terraces.
David Moese, Head of Acquisitions & Business Development Austria at HT Group, says: “A new urban district is currently being developed all around the former brewery site west of the city centre. By completion in 2025, it will offer living space for around 10,000 people. This is absorbed by high demand in the university city and state capital Graz, the second largest city in Austria. Wohncampus Reinighaus also profits from newly created public infrastructure on-site and will secure long-term cash flow for our investors.”
In the new Reinighausgründe district, some 5,000 flats and commercial space for around 10,000 workplaces, including a local supermarket, school campus, several kindergartens and day-care centres, are being built. A 1.2-hectare district sports ground and extensive green spaces offer space for leisure activities. The new district is linked to the local public transport network via a local train station (S-Bahn), a tram and two bus lines.
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