HEUKING advises Primus Valor AG on the acquisition of a residential real estate portfolio in Bavaria

A team led by Hamburg-based HEUKING partner Dr. Sönke Görgens has provided legal advice to Mannheim-based investment house Primus Valor AG on the acquisition of a residential real estate portfolio comprising 344 residential units in Bavaria for its fund ImmoChance Deutschland 14 Renovation Plus (ICD 14 R+).

The portfolio encompasses residential properties in Aschaffenburg, Erlenbach, Kitzingen, Nürnberg and Schweinfurt, with a total area of nearly 24,000 m². The total investment volume, including ancillary acquisition costs and planned renovation measures, amounts to approximately 38 million euros.

As part of the Renovation Plus strategy pursued by Primus Valor, extensive renovation and modernization measures are planned. More than 20 % of the total investment is allocated to such measures. The key objectives are to improve the energy efficiency of the buildings, enhance residential quality and unlock further development potential within the existing portfolio.

With this latest acquisition, the total investment volume of the ICD 14 R+ fund increases to nearly 85 million euros. The number of units rises to a total of 727. The fund thus continues its strategy of leveraging the current market phase for countercyclical investments in the residential real estate sector.

The team led by HEUKING partner Dr. Sönke Görgens regularly advises Primus Valor AG on the acquisition of real estate portfolios and residential units.

Counsel to Primus Valor AG
HEUKING:
Dr. Sönke Görgens (Lead),
Annalena Huhnholz (both Real Estate Law), both Hamburg