In Oedheim near Heilbronn, Neufeld Immobilien GmbH and Ten Brinke have sold a jointly realised residential project to asset manager PIER Investment Partner (Pier GmbH) via a forward deal. The undertaking comprises a total of 63 rental apartments with a cumulative living area of approximately 5,100 square metres. A significant portion of these, specifically 47 residential units, are being developed as part of subsidised housing, which accounts for about 80 percent of the total area.
Construction work by Ten Brinke is set to begin this month, with completion scheduled for July 2028. The residential ensemble will be erected on a plot of approximately 4,900 square metres on Sophie-Scholl-Straße in Oedheim. The 63 rental apartments range in size from 54 to 110 square metres. The subsidised social housing is supported by programmes from the state-owned L-Bank, the district of Heilbronn, and the municipality of Oedheim.
Project Structure and Sustainable Aspects
The development consists of two building structures, each comprising three full storeys and a stepped-back top storey. In terms of energy efficiency, the project meets the KfW-40 standard and will be heated using air-to-water heat pumps. Additionally, a total of 82 parking spaces for residents will be created in the outdoor area and an underground car park.
Arthur Neufeld, Managing Director of Neufeld Immobilien GmbH, stated that this project will create urgently needed housing in the region, and the high proportion of subsidised apartments is of crucial importance. He emphasised that the project demonstrates how regional market knowledge and integrated construction expertise can work synergistically. Mirco Strauch, authorised signatory at Ten Brinke, highlighted that the strength of their company as a project developer and general contractor plays a central role, as implementation is managed from a single source. He added that the cooperation with PIER ensures access to institutional investors, which makes the realisation of the housing project economically viable, high-quality, and on schedule.
Acquisition by PIER for Institutional Investor
Pier GmbH acquired the property on behalf of a German supplementary pension fund. PIER is a platform specialising in real estate investments and asset management for institutional investors, and a corporate holding of Ten Brinke. Investments are made in real estate projects with a long-term perspective. Markus Ofschonka, Managing Director of Pier GmbH, explained that the project represents an attractive combination of sustainable housing, long-term stable returns, and high social relevance in a growing region with increasing demand for housing.
