Winters & Hirsch has advised the Berlin-based Grundstein Group on the sale of a student residence in the university town of Göttingen. The property was acquired by Bouwfonds Investment Management GmbH for the Bouwfonds European Student Housing Fund.
Built originally in the 1970s, the 14-storey building was extensively refurbished by the seller between 2014 and 2015. The residence has 146 modern student apartments on approx. 3,940 sqm of total rental space. The approx. 3,475 sqm plot accommodates 30 parking spaces.
The purchase price was EUR 10.15 million.
Winters & Hirsch had been instructed by the seller to market the property, and also advised the buyer on the transaction. The purchase contract was notarised by notary Jan Lindner-Figura of the law firm of GÖRG. Bouwfonds was legally represented by the Hamburg-based law firm of CT Legal.
With some 120,000 residents, Göttingen is the sixth-largest city of Lower Saxony. Göttingen is largely dominated by the Georg-August University, the oldest and largest university in the state, as well as two further universities and numerous well-known research institutes. Students account for around 20 percent of the town’s population. Besides higher education, Göttingen’s local economy is driven by measuring technology, optical industry, laser technology, and logistics.