P&P Group sells residential project with 6,500 square meters in Nuremberg-Erlenstegen
- New apartment building with 94 residential units not far from the Wöhrder See lake
- Home office space, local recreation, home comforts
- KfW-55 standard, e-charging stations
Fürth, 14. July 2022 - The real estate investor and developer P&P Group has sold a residential project in the Nuremberg district of Erlenstegen with a total of 6,500 square meters of living space to an institutional investor, the asset manager Columbia Threadneedle Investments (formerly BMO Global Asset Management), as part of a forward deal. The modern building with 94 residential units is located on Thumenberger Weg, not far from Wöhrder See, and offers not only residential comfort and local recreation but also excellent transport links. 30 percent of the residential units have already been rented out, so that the first tenants will move in by mid-August of this year. The parties have agreed not to disclose the purchase price.
The modern one- to five-room apartments are spread over different, staggered house sections with up to five floors and are partly equipped with home office rooms. Due to the exposed location, almost all residents, especially the tenants in the penthouses, have a special view over Nuremberg. Ten outdoor and 65 underground parking spaces - including charging stations for e-cars - round off the property's overall offering. The residential building will be constructed according to the KfW-55 standard. It will be heated sustainably with a modern pellet system.
"The contemporary building appeals to singles as well as couples and families due to the variety of apartment types and meets the highest demands. You can quickly get to the highway or downtown, relax by the lake and also ideally work from home," says Michael Peter, CEO of P&P Group.
About the P&P Group
P&P Group is an investor and investor platform with offices in Munich, Fürth and Frankfurt am Main. The operating investor with excellent technical expertise and almost 30 years of history realizes complex portfolios in the residential, office and retail segments. The accumulated transaction volume to date amounts to €3.1 billion.
In addition to real estate, P&P Group invests in the asset classes of private equity and venture capital through its wholly owned subsidiary RIVUS CAPITAL. The overarching investment focus is on the real estate-related sectors of real estate, infrastructure and ESG. CEO and managing partner of the P&P Group is Michael Peter.