PRESS RELEASE

Frankfurt: aamundo and Universal-Investment acquire quarter with more than 1,200 residential units from Instone Real Estate for BVK

- Approx. 93,000 square metres of floor area on former Avaya site projected

- More than 1,200 apartments to be built by residential property developer Instone by 2024, around 400 of them publicly subsidized

- Beginning of construction expected in 2020

Frankfurt am Main/Essen, 7 October 2019. On the former Avaya site on Kleyerstrasse in Frankfurt's Gallus district, residential property developer Instone Real Estate will build one of the biggest new urban neighbourhoods, the so-called Kleyer quarter with more than 1,200 new apartments, including around 400 publicly subsidized units. The project was already acquired prior to construction start by the real estate group aamundo and Universal-Investment for the special real estate fund of Bayerische Versorgungskammer (BVK). The purchase was made as forward funding transaction. The seller is residential property developer Instone Real Estate, who will develop the site.

Andreas Gräf, COO of Instone Real Estate, says: "Instone Real Estate and Bayerische Versorgungskammer are already collaborating successfully on residential development projects in Bonn and Stuttgart. We are taking this quality cooperation to a new level now in Frankfurt. With strong partners such as aamundo and Universal-Investment and in line with the City of Frankfurt's objectives, we will be able to build a mixed-use quarter that meets the highest standards of modern coexistence and provides housing for numerous stakeholder groups in a location that's oriented toward the future. At the same time, we are continuing Instone Real Estate's course of growth as a developer of large urban quarters."

More than 1,200 residential units, a full-range supplier and three daycare centres are to be built on the 51,000 square-metre site. The projected total floor area is approximately 93,000 square metres. About 30 percent of the units are planned as publicly subsidized housing.

The neighbourhood development consists of a total of four residential blocks with interior courtyards as well as two additional building blocks. The existing office building will be demolished. In addition to the ongoing management of the quarter's development throughout the construction period, aamundo will also take over asset management upon completion. Beginning of construction is expected in 2020, with completion scheduled for 2024. More than 3,000 people are expected to move in to the quarter over the next five years.

"The development project on the former Avaya site is in precise alignment with aamundo's business strategy: "We actively handle the acquisition and will develop and take over asset management - and generate added value for our investors," says Michael Schleich, member of the Management Board.

The former industrial site at Kleyerstrasse 94 was the headquarters of the US-American communications company Avaya, which left the location in 2013. The site is situated on the southwestern edge of Frankfurt's Gallus district, which has developed into an attractive business and residential quarter in recent years. The development of the quarter, which has just begun, will have a lasting impact on the quickly growing Gallus district.

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ABOUT UNIVERSAL-INVESTMENT

Universal-Investment is the largest independent investment company in the German-speaking world with around EUR 471 billion in managed assets, EUR 380 billion of it in its own vehicles and approximately EUR 91 billion in additional services such as insourcing, well over 1,400 mandates for mutual and special-purpose funds and around 700 employees. The investment company is the central platform for independent asset management and combines the investment expertise of wealth managers, private banks, asset managers and investment boutiques. With the acquisition of UI labs at the beginning of 2019, the industry's leading IT data specialist also expanded its service portfolio by adding front-office and data solutions. Established in 1968 in Frankfurt am Main and with subsidiaries, branches and holdings in Luxembourg, Poland and Austria, Universal-Investment is one of the pioneers in the investment sector and current market leader in the areas of master capital management companies and private label funds. According to PwC's 2019 ManCo survey, Universal-Investment is not only the largest AIFM ManCo, but also the biggest third-party ManCo in Luxembourg. (Last updated: 31 August 2019).

More information at: www.universal-investment.com

ABOUT AAMUNDO

Real estate group aamundo acquires and manages residential and commercial real estate portfolios for institutional investors and family offices as well as for its own balance sheet in the risk-averse segment (aamundo Investment Management and aamundo Commercial) and higher-risk segment (aampere Investment Management). With aamundo Fund Management, aamundo also has a fund house for institutional investors. As a fund advisor, the house facilitates subordinate financing for development projects or exceptional situations through mezzanine property funds or direct loan placement. aamundo operates nationwide and is headquartered in Frankfurt am Main. The Management Board of aamundo Holding AG consists of Prof. Dr. Nico B. Rottke (spokesman), Stefan de Greiff, Michael Schleich and Bernhard Berg.

More information at: www.aamundo.de

ABOUT INSTONE REAL ESTATE

Instone Real Estate is one of Germany's leading residential developers and is listed in the SDAX. The company develops attractive residential and multi-family buildings as well as publicly subsidized housing, designs modern urban quarters and refurbishes listed buildings for residential use. Buyers are mainly owner-occupiers, private investors with the intention of letting and institutional investors. In 28 years, Instone Real Estate has successfully developed more than one million square metres. Around 330 employees work at eight locations nationwide. As of 30 June 2019, Instone Real Estate's project portfolio comprised 47 development projects with an expected total sales volume of roughly EUR 5.1 billion and more than 11,500 units.

Press Contact

Universal-Investment-Gesellschaft mbH
Bernd Obergfell Sascha Nottmeier
Head of Communications Communications Manager
T: +49 69 71043-575 T: +49 69 71043-5609
M: +49 151 5381 6803 [email protected]

[email protected]

aamundo Immobilien Gruppe
André Vinson
Referent Presse- und Öffentlichkeitsarbeit
aamundo Holding AG
T.: +49 69 8740 34 506
[email protected]

Instone Real Estate
c/o RUECKERCONSULT GmbH
Michael Lippitsch
Wallstraße 16
10179 Berlin
Tel.: +49 (0)30 2844987-47
Fax: +49 (0)30 2844987-99
E-Mail: [email protected]