JUNIQO Invest concludes contract for urban development and redevelopment in the Upper Palatinate region of Germany
The young Berlin-based transaction specialist and asset manager JUNIQO Invest GmbH recently acquired a total of 51 apartments for its own portfolio.
The residential portfolio is located in the town of Eschenbach in the Upper Palatinate not far from Bayreuth.
In total, the apartments in Eschenbach are spread over 7 buildings in Stirnbergstraße (12-15, 22,25,26). The rental area comprises around 3,000 square meters. The buildings were built in the early 1960s. Currently, most of the apartments are still heated with coal stoves and are in a state in need of refurbishment. The residential portfolio currently has an occupancy rate of 70 percent.
Together with the municipality, JUNIQO is starting a complete redesign of the residential complex and the residential environment in Stirnbergstrasse. The Berlin-based specialist for residential real estate is planning an energetic refurbishment according to KfW efficiency house 70 standard. This includes an environmentally friendly central heating system or, if necessary, local heating, insulation of the facades, basement ceilings and top floor ceiling, comprehensive string renovation and the installation of new insulating glass windows. Furthermore, the addition of balconies and the horticultural redesign of the outdoor facilities will be carried out to increase the quality of living.
“Our goal is to offer tenants a significantly improved and modern standard of living. An important element of this is also the implementation of high ESG standards, so that the refurbishment that is now beginning will also meet the demands of environmental friendliness, energy efficiency and social requirements in the long term. From our point of view, this results in a win-win situation for all sides. The tenants can look forward to a better quality of life, the community to a revitalized residential area and we to a modern portfolio with stable earnings,” explains Nino Nowack, Managing Director and founder of JUNIQO Invest.
“We are pleased to have found an experienced partner in JUNIQO for the redevelopment of the residential complex. It was time to take action and significantly improve the housing situation of the people. We are now succeeding,” underlines Marcus Gradl, mayor of the city of Eschenbach.
Eschenbach is located in the triangle between Bayreuth, Weiden and Nuremberg. With a population of around 4,200, the town belongs to the district of Neustadt an der Waldnaab, which has a population of around 100,000. The municipality was first mentioned in 1150. Eschenbach was the district capital until 1972. Eschenbach has been growing again very significantly for several years. The town is known not only for its proximity to the Grafenwoehr military training area, but also for its resident companies, as a school location, and for its leisure and recreational opportunities, such as the Großer Rußweiher bird sanctuary and the largest mud bath in northern Bavaria. The motto of the city is “Experience nature – enjoy culture”.
JUNIQO Invest specializes in the management and structuring of real estate transactions. For purchases, the focus is on residential and commercial properties as well as 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.
Press release: 21-06-04-Pressemitteilung-JUNIQO-Invest