PATRIZIA acquires 200-unit student accommodation property in Münster
PATRIZIA Immobilien AG is pleased to announce that it has acquired a 6 300 sq m modern student accommodation property in Münster, North Rhine-Westphalia from a Dutch investment company.
The property comprises 200 one-bedroom apartments across two towers as well as an underground parking garage and is situated in the sought after area of Münster-Gievenbeck, five kilometres from the city centre of Münster. “We have been experiencing an increasing level of interest in student accommodation from institutional investors. This property in particular is one of high-quality in an area that is greatly in demand due it being a well-established site within a stable district,” explains Johannes Altmayr, Head of Residential Acquisitions at PATRIZIA.
Münster is home to 50 000 students, meaning more than 20 per cent of its 310 000 residents are studying at a university in the city, including at the prestigious Westfälische Wilhelms Universität, making it one of the largest student populations in Germany. “We anticipate that this population, and the subsequent demand for high-quality, affordable student accommodation in the area, is set to grow further in the coming years,” says Altmayr. Constructed in 2013, all of the fully let apartments include private kitchen spaces, while the majority also benefit from individual balconies. The property’s close proximity to public transport links allows residents easy access to Münster and university amenities.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager on the real estate market in 15 European countries for more than 30 years. PATRIZIA’s range includes the acquisition, management, repositioning and sale of residential and commercial real estate over own licensed investment platforms. As one of the leading real estate investment companies in Europe, PATRIZIA operates as a respected business partner of large institutional clients and retail clients in all major European countries. Currently, the Company manages real estate assets worth over EUR 18 billion, primarily as a portfolio manager and co-investor for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks. For further information, please visit: www.patrizia.ag.