AviaRent acquirers 280 Micro-Apartments in Bavaria

AviaRent Capital Management S.à r.l. has purchased for their managed fund Multi Asset I S.C.A. SICAV-FIS a residence with 280 Micro-Apartments in the city of Hof. Investors and sellers of the building complex are the Munich based THG Beteiligungen GmbH and the Fuchsberg Capital GmbH. The THG Beteiligungen re-ceived the award of the European tender.

„Within the last 12 months, 280-one-bedroom apartments, shared kitchens and seminar rooms were built on a total rentable area of around 6.500 m² in 3 buildings. Furthermore 280 car parking spaces were created on site“, says Oliver Spiewak, Acquisition.

The residential complex in Hof in Wirthstraße 23 was completed and fully rented in the middle of the year.

General tenant is the Free State of Bavaria, the renter is the „College of Civil Service in Bavaria. The residential complex is solely used by students and for training civil servants. Likewise, the residential complex is within easy reach of the already existing university in Wirthstrasse and integrated into the university business.

Hof is a city in the north-east of Bavaria, located on the river Saale. With almost 45.000 inhabitants Hof is the third largest city in the government district of Upper-Franconia.