November 9, 2022

Premiere for Green Impact Fund: WEALTHCORE acquires first large-volume residential project in Vienna's 22nd district and launches fund

Great luck in Vienna

Premiere for Green Impact Fund: WEALTHCORE acquires first large-volume residential project in Vienna's 22nd district and launches fund

  • 10,000 square meter new residential project "Grosses Glück" exceeds highest sustainability requirements and is purchased by WEALTHCORE for the Green Impact fund series according to Art. 9 EU Disclosure Regulation
  • The development project is awarded with ÖGNI Gold and EU Taxonomy Conformity Certificate
  • Top residential location in Vienna due to close proximity to the Donau-Auen National Park and the Danube Island
  • Target returns of the fund are 3 percent CoC p.a. and 5 percent IRR p.a.
  • Purchase was made with seed capital in the amount of EUR 40 million.
  • Next acquisition imminent

(Munich, September 28, 2022) Investment manager WEALTHCORE Investment Management has successfully completed the first property acquisition in Vienna for its Art. 9 Green Impact Fund. With the deal, the industry pioneer acquires the 10,000-square-meter residential project "Grosses Glück" with a total of 153 units, spacious common areas and bookable home office berths. According to a survey by the Morningstar rating agency, only around 3.6 percent of funds throughout Europe qualify for the dark green sustainability standard. The open-ended special AIF is aimed at professional and semi-professional investors. The target volume is 500 million euros.

Properties like 'Grosses Glück', explains WEALTHCORE's Managing Director Ralph Andermann, "are a great opportunity. In the market for Article 9-compliant residential properties, we now have a long-term sustainable property in the fund, 'Grosses Glück,' which will allow us to successfully address the transitory risks arising from the decarbonization of the building sector." One reason for the scarce supply of Article 9-compliant properties, according to Andermann, is industry inertia. "Our developers, unlike the mainstream, have started early to create the digital requirements for the strict specifications of dark green funds to pass the taxonomy check in the course of ESG due diligence. Projects must not only meet the highest sustainability standards, but provide all the necessary data an Article 9 fund needs for its reporting obligations."

Vienna's new residential building "Grosses Glück" meets these highest sustainability criteria, is certified ÖGNI Gold and developed precisely and innovatively. The planning focused on climate-friendly energy supply and ecological building materials with high recycling rates as well as optimal consumption efficiency through digitalization. WEALTHCORE focuses its investments for the Green Impact Fund on core / core+ new residential construction and core renovated existing properties allocated in Germany's top 8 markets as well as in Austria's federal capital Vienna. The focus is on real estate investments with sustainable value creation and extensive certifications.

The "Grosses Glück" residential complex is planned as a virtually CO2-neutral and energy-autonomous property and will supply future residents with heating and cooling through geothermal energy and photovoltaics. The residential units are heated and cooled by means of building component activation. All of the 153 2- to 4-room apartments have open spaces such as balconies, gardens or roof terraces. They range in size from 39 to 86 square meters, making them attractive for different users. The site is landscaped to the maximum and interspersed with various communal areas, including two children's playgrounds. In addition to optimal public transport connections, eight fully equipped electric charging stations and over 400 bicycle parking spaces enable sustainable mobility concepts. The asset management concept is particularly user-friendly, providing digital data measurement with all key figures for analysis and reporting. The collected data is communicated - also digitally - between asset management, property management and tenants. The transparent handling of this data between all parties stands above all for the "social" of the ESG strategy and prevents "the relationship between owners and tenants from faltering due to unavoidable ancillary costs," explains Andermann.


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.

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