Commerz Real has acquired the newly constructed “Kopernikushof” residential complex with 98 residential units from the project developer Diringer & Scheidel Wohnbau for its open-end real estate fund hausInvest in Heidelberg. 70 of the rental apartments are freely financed, 28 housing units are supported on an income-oriented basis. Non-disclosure was agreed on the purchase price. Construction is planned to start at the end of 2021, and the building permit is already in place. The apartments should be available for occupancy by the end of 2023.

The complex with a total of 7,900 square metres of living space and 600 square metres of commercial space will be built in two buildings on a plot of land measuring almost 5,000 square metres at Maria-Mitchell-Straße 6 and Kopernikusstraße 7-19. All apartments will have balconies, loggias or terraces. There will also be 132 underground parking spaces, 16 of which will have electric charging stations. The remaining 116 parking spaces will be equipped with a cable tray so that they can be converted into e-charging stations if necessary. In addition, the plant will be constructed in accordance with the efficiency house standard level 55 and will have a photovoltaic system. “This fits perfectly with our investment strategy, which is geared towards ecological and social sustainability,” explains Mario Schüttauf, fund manager of Hausinvest, whose housing share in the portfolio is to be expanded from 6.7 percent to ten to 30 percent in the medium term.

The “Kopernikushof” is centrally located in the newly created “Bahnstadt” district in the southern part of Heidelberg, close to the neighbourhood centre. One of the largest passive house settlements in the world is being built in the district, which is also one of the largest urban development projects in Germany with an area of 116 hectares. The old town and central train station can be reached in just a few minutes by public transport. In addition, the immediate surroundings offer good local and medical care: Various kindergartens, schools and cultural and leisure facilities are located in the immediate vicinity. Commerz Real already knows the situation well due to the Star Inn hotel, which is located in the direct vicinity and is also part of the portfolio of the property investment.

The transaction was structured as forward funding. This means that Commerz Real first purchases the building plot and then pays the purchase price in instalments according to construction progress. During the due diligence, Commerz Real was advised by Greenberg Traurig (legally) and Arcadis (technically).