has acquired its first European single-family housing build-to-rent scheme in Osnabr眉ck, Germany from Anima, Vivum Group鈥檚 development arm.
Barings said the Mien Huus scheme, which is part of the Landwehrviertel regeneration project, has been acquired on behalf of a core strategy.
Financial details were undisclosed.
The Mien Huus project, expected to complete in 2024, encompasses 59 townhouses that range between 140 and 170sqm of living space.
The Landwehrviertel project is a 37-hectare urban quarter development on the former site of a British army base, which will offer new homes for more than 1,200 people in over 800 residential units upon completion.
Sascha Becker, managing director and country head of Germany, at Barings, said: 鈥淢ien Huus will be excellently placed to provide housing for mid-level incomes in a new urban quarter that has been designed with sustainability at its heart from the outset.
鈥淕reen spaces, energy self-sufficiency, excellent public transport links and high-quality fixtures are set to attract a host of residents, particularly young families.鈥�
Gunther Deutsch, managing director and head of Europe real estate transactions at Barings, said: 鈥淲ith a pronounced demand for modern housing in economically successful regional cities such as Osnabr眉ck, we expect Mien Huus to become a strong investment for our core strategy.
鈥淲e are looking for further opportunities in the BTR segment across our target markets in Europe, which apart from Germany also include the Nordics, the Netherlands, France, the UK, Italy and Spain.鈥�
Mark Maurin, partner at Vivum and project head at Anima, said: 鈥淎n ESG strategy and sustainability have been at the heart of our deliberations from the beginning of the project. Sustainability covers a host of concerns in this case, not only the high energy efficiency of the buildings.
鈥淎 central urban gardening area or technical connections for charging poles are creating a real added value for the environment and the residents.鈥�
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