• Property in top location with very good connections and infrastructure
• Occupancy rate over 75 per cent
• Portfolio held by the fund increases by 62 units to 421 flats and more
  than 33,000 square metres
• Target fund volume of approximately 250 million euros including around 150 million euros in equity
  

Munich, 18 January 2022. The German-Austrian fund manager WEALTHCORE Investment Management, a subsidiary of United Benefits Holding, has acquired another new residential building project in Vienna's 21st district for the special fund "Wealthcore Austria Living I" as part of an asset deal. The ensemble, consisting of three building sections with a total of 62 residential units and 45 underground parking spaces,
is situated in a perfectly connected location on the corner of Leopoldauer Platz and Großfeldstraße in the north-east of Vienna. The project was developed and sold by the real estate group of Schubert Rechtsanwälte (Vienna). It combines country and city life as well as nature and sustainability. More than 75 percent of the flats are already rented.

"The project is particularly convincing due to its intelligent planning and sustainable construction. It fits perfectly into the investment strategy of the special fund," says Manuel Bugl, Managing Director of WEALTHCORE Investment Management GmbH. Sustainability is confirmed by ÖGNI certification. In addition, a retrofit of e-charging stations is planned.

As with past purchases, the location of the new construction project and the rental demand were decisive criteria for the investment decision. In addition, the new residential construction project is characterised by its modern architecture, generous outdoor spaces and efficient floor plans. With their floor plans and sizes ranging from 39 to 116 square metres, the flats at Leopoldauer Platz are suitable for families as well as singles. Letting and asset management will be handled by the subsidiary EKAZENT Management GmbH, which aims to achieve full occupancy in a timely manner.

The transaction was made possible as a result of an investment by a new investor in the "Wealthcore Austria Living I" real estate fund in the fourth quarter of 2021. The new addition confirms the fund strategy and is emblematic of the great interest shown by investors who want to benefit from the opportunities offered by the Austrian residential real estate market. The "Wealthcore Austria Living I" fund is aimed at institutional investors from Germany such as pension funds and insurance companies.