AviaRent Capital Management S.à r.l. has acquired the first property for the fund MikroQuartier II which launched end of 2016. The investment is co-living-project in Berlin-Moabit, which was obtained for a total investment volume of € 9.3 million. For the Luxembourg fund manager, it is the 17th apartment building in its German-wide portfolio.
„We look forward to working with Medici Living GmbH, which will operate the property under the name Quarters as general tenant”, says Oliver Spiewak, Acquisitions.
The object in Stromstraße 36 consists of two houses, in the front an old building and the new building behind it. On a total living space of approx. 2.400 m², the building has a total of 115 rooms in 28 residential units. The two buildings are located on a plot of approx. 1.060 m².
The old building was built in 1985 and is expected to be modernized at the end of 2018. The existing building comprises a total of 66 rooms spread over 18 residential units and a commercial unit. The new building was built in 2017 and has 49 rooms in 10 residential units.
„With the innovative co-living-concept we offer urban and young people a central life in Berlin. The tenant structure will therefore consist of students, job beginners, commuters and start-up founders”, says Yasmin Gröning, Acquisitions.