BMO Real Estate Partners Germany has purchased an approximately 6,000 sqm site in Bremen’s Überseestadt as part of a forward deal. The property is currently being built to the KfW 55 standard. The project development in the future Europaquartier between Konsul-Smidt-Straße and Überseepromenade is expected to be completed in the fourth quarter of 2022. 153 residential units with a view of the River Weser will be built on a rental area of over 10,000 sqm. The residential use is supplemented by a commercial unit of around 140 sqm and an underground car park with 139 parking spaces. The seller is a company from the Justus Grosse Group.
The purchase was made for the special AIF "Best Value Wohnen II" by HANSAINVEST Hanseatische Investment GmbH as the capital management company. It is one of eleven properties which was acquired advised by Jebens Mensching for the fund with a target investment volume of around EUR 360 million.