Primus Valor acquires more than 300 residential units in Aschaffenburg with support from HEUKING
With a team led by Dr. Sönke Görgens, Partner at the firm’s Hamburg office, HEUKING advised Primus Valor group on the acquisition of more than 300 residential units in Aschaffenburg. The transaction was carried out on behalf of alternative investment funds ICD 12 R+ and ICD 14 R+. Located in the northwest of Bavaria, Aschaffenburg offers a strong economic foundation, excellent transport links, and a high quality of life with a vibrant cultural scene.
The acquired residential real estate portfolio of 316 residential units spans seven streets and is distributed across two funds within the ImmoChance Deutschland fund series.
Just two months after the start of its placement, ICD 14 R+ has successfully completed its first acquisition: three building entrances comprising 22 residential units with a total of some 1,800 square meters of living space. Renovation work is already underway to enhance the properties and unlock their rental potential.
As part of the overall transaction, 294 residential units on more than 19,000 square meters of living space, distributed across seven streets, will be allocated to the predecessor fund ICD 12 R+, which entered the management phase earlier this year. With this latest addition, ICD 12 R+ has expanded its portfolio to nearly 1,300 units. Visual, structural, and energy-efficiency upgrades are planned across nearly all properties.
Founded in 2007 and headquartered in Mannheim, Primus Valor group employs over 120 professionals and manages invested assets totaling EUR 1.1 billion. The firm specializes in acquiring affordable residential real estate in Germany’s regional and mid-sized urban markets.
Dr. Görgens and his team at HEUKING regularly advise Primus Valor, most recently supporting the acquisition of multiple properties in Wolfsburg.
Counsel to Primus Valor group
HEUKING:
Dr. Sönke Görgens (Lead), Real Estate and Contract Law, Hamburg
