Art-Invest Real Estate acquires ELEMENT CORE LIVING residential portfolio

Art-Invest Real Estate has announced the acquisition of the ELEMENT CORE LIVING residential real estate portfolio, which consists of four properties located in Hanover, Braunschweig, Dietzenbach, and Dortmund. The portfolio, which includes 318 residential units, five commercial units, and 384 parking spaces, was purchased from the open-ended mutual real estate fund FOKUS WOHNEN DEUTSCHLAND.

Managed by INDUSTRIA Immobilien GmbH and administered by INTREAL Service-KG, the ELEMENT CORE LIVING portfolio offers approximately 32,000 square meters of rental space. The acquisition aligns with Art-Invest’s long-term strategy, securing properties for an institutional investor with a focus on stable, long-term income.

The four properties, built between 2014 and 2020, are located in prime urban areas with excellent access to public transport and highways, ensuring strong rental demand. This acquisition is part of Art-Invest’s ongoing effort to expand its residential division, with a particular focus on recently constructed properties.

“With the acquisition of the ELEMENT CORE LIVING portfolio, we are successfully growing our residential division,” said Malte Schrötgens, Senior Manager of Residential at Art-Invest Real Estate. “This addition brings our residential portfolio to over 2,000 units across Germany and Austria.”

Arnaud Ahlborn, Managing Director of INDUSTRIA, highlighted the success of the sale despite market challenges. “We are pleased to have completed this large-scale sale in a still challenging environment, demonstrating strong demand for well-positioned properties,” he said.

Jens Grathwol, Head of Fund Management at INDUSTRIA, added, “The quick execution of the sale highlights the marketability of properties with good energy efficiency, which aligns with our fund’s strategy.”

Art-Invest Real Estate received legal counsel from Mayer Brown LLP and technical advice from TA Europe. The seller was advised by GSK Stockmann, with CBRE acting as broker for the transaction.

This acquisition marks a significant step in Art-Invest Real Estate’s ongoing expansion in the residential sector, with plans for further growth in both core properties and alternative investment strategies.