abrdn expands exposure to continental European residential market with new acquisition in Cologne
31 July 2024abrdn, the global investment company, has further expanded its presence in the continental European residential rental market with the acquisition of an asset in Cologne, Germany.
The asset was purchased on behalf of investors in the €1.7bn abrdn Pan-European Residential Property Fund (aPER, “the fund”), one of the largest European residential real estate funds. It is the fourth residential asset purchased in Germany for the fund, after acquisitions in Berlin, Dusseldorf, and Leverkusen.
Marc Pamin, Fund Manager and CEO of Living at abrdn, said:
“Demand continues to rise for good quality rental homes in major European cities like Cologne –and supply has not been able to keep up. We are seeing growing appetite from pension funds and other institutions for access to Europe’s growing rental market.
As one of Europe's largest residential managers, we believe we are uniquely placed to identify and secure the best opportunities and to deploy fresh capital at speed.”
The residential-led, mixed-use asset is in Cologne, the fourth largest city in Germany and largest city of North Rhine–Westphalia – an economically flourishing area with continuous demographic growth.
The 7,400 m² property is located in the district of Kalk, east of the city centre, a very well-connected and sought-after residential zone with green areas, shopping and leisure opportunities. The 163 homes promote modern living, offering a mix of classic private rentals, furnished apartments for students and young professionals, and apartments for senior citizens. The social aspect of the asset will additionally benefit from a nursery on the ground floor of the building.
The fund is highly diversified, with 49 assets across 10 countries and 30 cities and a strategy backed up by abrdn’s expert global research team. 47 out of 49 assets are already income producing and the remaining assets under construction will be completed in Q3 2024.
Sustainability is at the heart of the fund’s investment strategy and it has the highest 5-star rating from GRESB for ESG.
aPER is designed to offer institutional investors index-linked rental income by acquiring high-quality residential assets in Triple A locations – such as Kalk – that provide Affordability, Accessibility and Amenity for residents.
abrdn has approximately €10bn under management in the residential sector and has been investing since 1996. The acquisition reflects abrdn’s high level of conviction in the residential sector.
Ends
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Head of Campaigns and Media, abrdn
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Marianna Hunt
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07442 806 207
Notes to editors
About abrdn:
abrdn is a global investment company that helps clients and customers plan, save, and invest for the future. Our purpose is to enable our clients to be better investors.
abrdn manages and administers £508bn of assets for clients (as at 31 March 2024).
Our strategy is to deliver client-led growth. We are structured around three businesses – Investments, Adviser and ii – focused on the changing needs of our clients.
The capabilities in our Investments business are built on the strength of our insight – generated from wide-ranging research, worldwide investment expertise and local market knowledge.
Our Adviser business provides financial planning solutions and technology for UK financial advisers, enabling them to create value for their businesses and their clients.
interactive investor, the UK’s second largest direct-to-consumer investment platform, enables individuals in the UK to plan, save and invest in the way that works for them.
Notes to Editors
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