Family office case study
Outstanding execution of strategy in Portfolio I — Hamburg, Germany
Location
Hamburg, Germany
Generated over 310bps of outperformance in the hard-to-source city of Hamburg
Hamburg is one of the most promising rental cities in Germany. The client could not find residential investments at attractive prices at scale.
Using IMMO Capital’s intelligence platform, we carried out extensive market assessment for volume, transactions and locations.
5.7%
Average gross entry yield achieved vs market of 2.7%.
€20bn
Worth of single-family rental (SFR) assets evaluated.
14 months
Average tenancy with rental income achieved.
Opportunity
Germany has strong demand for housing in the “Top 7” cities
Driving the demand is strong population growth, high volumes of renters and a preference for smaller household sizes.
Strong population growth
Population growth in Top 7 cities vs. rest of Germany.
High % of rents
Distribution between owners and renters.
Problem
Attractive yields in Germany, but impossible to source at scale or speed in good locations
German markets offer 2-3% unfurnished yields. IMMO Capital can add over 350bp to these returns.
Solution
Use IMMO Capital’s intelligence to create portfolios that no other provider can
We help create large portfolios of SFR assets at speed and scale.
Sourcing summary
In 12-months, we identified over 20,000 unique leads, providing scale of leads to deliver on bespoke investment criteria according to investor demand.
For IMMO’s first investor, this has resulted in:
Map of our Hamburg leads
Results
Analysed
27,000+ | €20bn
Properties using IMMO Capital’s proprietary technology
Inspected
1,000+ | > €422m
Conducted in-person by our local team of experts
Institutional capital commitment
€1.5bn
For residential assets across Germany
Assets
>87
Assets under management
Average time-to-let
8 days
Before asset is completed
Yield
5.7%
Average gross entry yield across acquired properties
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Case studies
Hellbrookstieg 8
(Barmbek-Nord)
50 sqm
1 Bedroom
1953
€240,000
Before renovation
After renovation
Achieved metrics
UW Rent
€1,100
Achieved rent
€1,280
vs. UW +16.3%
Achieved gross yield
6%
Refurb costs
€16,353
Reventlowstrasse 30 (Othmarschen)
93 sqm
2 Bedroom
1932
€405,000
Before renovation
After renovation
Achieved metrics
UW Rent
€2,300
Achieved rent
€2,400
vs. UW +4.3%
Achieved gross yield
7%
Refurb costs