Green Impact Fund continues its success story: WEALTHCORE acquires another new residential project in Vienna
- WEALTHCORE buys development project at Rudolf-Simon-Gasse 5 in Vienna Simmering for the Green Impact fund series according to Art. 9 EU Disclosure Regulation
- Transaction was legally advised on the buyer side by CMS Reich-Rohrwig Hainz Rechtsanwälte GmbH and on the seller side by Schönherr Rechtsanwälte GmbH
- New residential construction project is certified with ÖGNI Gold and exceeds EU taxonomy
- 000 square meter new construction project with 49 apartments convinces with highest sustainability requirements in the areas of climate neutrality, energy self-sufficiency and social added value
- Spatial program with green open and communal spaces ensures optimal living quality, social togetherness and healthy living
- All residential units have family-friendly and flexible floor plans
- Quiet top residential location in the 11th district of Vienna with good public transport connections and intelligent environmentally friendly mobility concept.
- Target fund volume of EUR 500 million, target distribution of 3.5 percent p.a. and target IRR of approx. 5 percent p.a.
- Target group: institutional investors
(Munich, October 12, 2022) Only a few weeks after the successful purchase of a 10,000 square meter residential project with 153 units, the investment manager WEALTHCORE realizes the second acquisition in Vienna for its Green Impact Fund according to Art. 9. This is a 3,000 square meter development project at Rudolf-Simon-Gasse 5 with a total of 49 units, generous common areas and an environmentally friendly energy supply concept. Green, urban and family-friendly, the new construction project is an ideal fit for WEALTHCORE's dark green Green Impact fund series with demanding sustainability standards. The new acquisition for the Art. 9 fund, which focuses on residential properties with the highest ecological and energy-efficient standards, strengthens the basis for the planned 3.5% p.a. distribution. Currently, according to a survey by rating agency Morningstar, only around 3.6 percent of funds throughout Europe qualify for this high sustainability standard. The open-ended special AIF is aimed at professional and semi-professional investors. The target volume is EUR 500 million.
Already second purchase for Green Impact Fund in early fall 2022
The new residential project at Rudolf-Simon-Gasse 5 is the second purchase by WEALTHCORE Investment Management in early fall 2022 for the Green Impact Fund. "In the market for Article 9-compliant residential real estate, we were once again able to acquire a long-term sustainable property for our Green Impact Fund, which comes with golden sustainability certification from the Austrian Society for Sustainable Real Estate (ÖGNI). Only properties with particular ecological, economic and socio-cultural added value, such as the one at Rudolf-Simon-Gasse 5, are certified ÖGNI Gold and EU taxonomy-compliant," explains Ralph Andermann, Managing Director of WEALTHCORE. Andermann sees the project development industry in a state of flux: "Developers must start early to create the digital prerequisites for the strict specifications of dark green funds in order to pass the taxonomy check in the course of due diligence. Projects must not only meet the highest sustainability requirements, but also provide all the necessary data that an Article 9 fund needs for its reporting obligations. There is a lot of catching up to do here. So far, there are few that are doing this well." WEALTHCORE focuses its investments for the Green Impact Fund on core / core+ new residential construction and core refurbished existing stock allocated in Germany's top 8 markets as well as in Austria's capital Vienna.
Even more green for Vienna Simmering
The planning of the above-ground four-story residential building project focused on climate-friendly and self-sufficient energy supply, consumption efficiency through digitalization, and social added value for the residents. Planned as a CO2-neutral property, users are supplied with heat and energy through geothermal probes and photovoltaics, and residential units are tempered with underfloor heating. All 49 apartments have open spaces such as balconies and terraces. The property is maximally landscaped and offers common areas for all. The Viennese office Riepl Kaufmann Bammer, which has successfully completed the redesign of the ORF Center in addition to planning residential and educational buildings, is responsible for the design. At Rudolf-Simon-Gasse 5, a calm classical facade meets a rhythmic cubature, creating different roof terraces. "The successful, very aesthetic layout of the residential building also creates real social added value, in addition to green open and communal spaces, because it intensifies the residents' identification with the building and their home. Everyone likes to live in a beautiful ambience," says Andermann. Rudolf-Simon-Gasse has optimal public transport connections: the Kaiserebersdorf S-Bahn station and streetcar stops on lines 11 and 17 are within walking distance. Sufficient charging stations and around 100 bicycle parking spaces are available for climate-friendly individual transport with e-cars and e-bikes.
About WEALTHCORE Investment Management
WEALTHCORE Investment Management designs tailor-made investment products for its investors, taking into account individual needs and risk profiles, and provides transparent services at the highest level, from concrete strategic planning to reporting. Together with its sister companies INVESTER United Benefits (Development) and EKAZENT Management, the United Benefits Holding Group initiates, develops, realizes and manages real estate investments in the DACH region and thus offers all services and processes along the entire value chain of a real estate investment. In line with the company's clear ESG strategy, all investments focus on independence, transparency and social justice as well as C02 reduction and the creation of sustainable value. The Group employs around 90 people and manages a volume of around 1.8 billion euros.
For more information, visit www.wealthcore.com.
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