JUNIQO Invest buys 180 apartments near Leipzig
Berlin-based transaction specialist and asset manager expands residential portfolio.
The young Berlin-based transaction specialist and asset manager JUNIQO Invest GmbH recently acquired a total of 180 apartments for its own portfolio together with a Bavarian partner. The residential complex is located around 30 kilometers north of Leipzig in Bad Düben, Saxony.
In total, the apartments in Bad Düben are spread over four buildings on Hüfnermark Street (1a-f, 2a-d, 3a-d and 6a-d) with a rental area of around 11,000 square meters and 24 parking spaces. The buildings were built in 1988 and have already undergone energy refurbishment and modernization in the past. The modernizations include the addition of balconies, thermal insulation of the facades, the installation of insulating glass windows and a redesign of the exterior surfaces. In addition, apartments were successively refurbished when they were vacant.
The residential portfolio currently has an occupancy rate of 83%. In the next 12 months, various measures are to be taken to increase the occupancy rate to 100%. In addition, there is the possibility of developing a directly adjacent building plot with almost 12,000 square meters for a single-family and terraced house development. JUNIQO plans to sell the land to a project developer specializing in single-family and townhouse development.
“We have deliberately invested in a portfolio with stable rental income that can be increased. As a residential specialist, part of our expertise is to find solutions to reduce vacancies and thus achieve a sustainable increase in value. In addition, there is the option of residential project development directly on a neighboring property,” explains Nino Nowack, Managing Director and founder of JUNIQO Invest.
Bad Düben is located south of the Dübener Heide in the quadrangle between Halle, and Wittenberg as well as Leipzig and Torgau. The town, with a population of around 8,000, is part of the district of North Saxony, with Torgau as the district capital. Northern Saxony has about 200,000 inhabitants. Bad Düben has been a spa town since 1948, mainly because of its moor bath. The town is a former garrison town with two barracks, part of which is now used by the resident federal police. In addition to the resident rehabilitation clinic, the Waldkrankenhaus and the Heide Spa as well as the other spa facilities, the globally active machine tool factory Profiroll is also of economic importance.
JUNIQO Invest specializes in the management and structuring of real estate transactions. For purchases, the focus is not only on residential and commercial properties, but also on project developments with a volume of up to 50 million euros for the company’s own portfolio. Geographically, JUNIQO Invest concentrates on Berlin, Leipzig and other central locations in large and medium-sized German cities.
Read the full press release here (German): 21-03-18-Pressemitteilung-JUNIQO-Invest