GBI sells senior living project in Lindenberg im Allgäu to special fund of a regional investor

Lindenberg, 02/06/2022 - The real estate developer GBI has sold the 49 rental apartments in the senior living project under construction in Lindenberg im Allgäu to an institutional investor. The project was acquired by investment company Deutsche Asset One for a special fund of a regional investor. "The high quality, combined with the social benefit afforded by the property, is a compelling investment argument in favour of the investment fund," explains Oliver Lenhardt, Managing Director of Deutsche Asset One. "And its direct connection to the local community makes it an ideal fit."

For the GBI Group, the senior living project at the "Am alten Bräuhaus" site is the first sale from the Group's new product line. "We had expected the high rental demand for our senior apartments and we are delighted that our first exclusive senior living project has found an institutional investor right at the start of construction," says Simon Behr, Managing Director of GBI Capital GmbH. "This underlines how well the new product line fits with the times: The older generation is increasingly looking for suitable and affordable housing. Once the offspring have moved out, they no longer wish to live in such large properties, and they also want to live more economically and with fewer commitments, such as gardening. However, the availability of suitable properties for this group is clearly inadequate and has failed to cater for the special demographic situation in Germany for a long time now. That is why we at GBI wish to provide more living opportunities like this."

In Lindenberg, alongside the 49 rental apartments spread over three buildings, 13 condominiums are also being constructed in a fourth building. These are available for purchase by private investors for their own use and some of the units have already been sold. The complex will also include 69 parking spaces, 49 of which will be in the basement garage currently under construction.

The investment was brokered by E&G Real Estate Munich and INLEASE Real Estate Advisory Stuttgart. "It was important to us to bring together the right partners on the project development and investment side, and to facilitate a project that is strongly anchored in the region," says Dr Frank Urfer, Managing Director of INLEASE. Michaela Mader explains the investment considerations of E&G Real Estate: "GBI has already accumulated extensive expertise in the field of housing with social benefits and has realised numerous projects in the past, and was therefore the ideal partner for this." Simon Hübner, board member of GBI Holding AG and responsible for housing construction, describes the concept behind the project: "We are building a property in Lindenberg that performs a very important role for the town and it has been a clear priority from the outset that locals should primarily benefit. Furthermore, the development operators and owners also come directly from the region. So the project's local roots are exemplary."

Demand-oriented properties with optional care services are the core of the GBI assisted living concept, which is also being implemented in Lindenberg. Residents are not only provided with apartments tailored for senior citizens with barrier-free accessibility, wheelchair-accessible floor plans and an emergency call system, but they can also take advantage of daycare amenities, medical and nursing services after moving in, if required. Household support services and a lunch menu open to all are also part of the concept. "This is exactly the right combination of assistance for this phase of life and the service concept of assisted living," explains GBI board member Hübner.

GBI is working together with the regional service provider GLW (Gepflegt Leben & Wohnen GmbH), on the age-appropriate design of the buildings and apartments in the Bräuhaus area, with the latter specialising in social real estate projects. In realising the additional services in Lindenberg, the regional MaYa service of GLW and the charity Caritas are also setting up contact points in the properties. "The residents should have access to the right point of contact for all issues related to organising their everyday lives and any special requirements; a contact partner who offers appropriate service solutions or seeks these out if necessary. And that is the role of reception in House 3," explains Christian Moosbrugger, Managing Director of GLW. In addition to a daytime café, several health service providers and attractive recreation areas in the green outdoor space, the senior living complex in Lindenberg also offers local amenities within walking distance and other medical services that are essential for the elderly.

According to the specifications of an urban development contract between GBI and the city of Lindenberg, the complex is only available to individuals from 60 years of age, those with a disability or who require a certain level of care. This specification also applies to the buyers of the 13 condominiums - regardless of whether they use the property themselves or rent it out. "This ensures a clear senior living concept. And the blend of rental and owner-occupied apartments should give all interested groups in the older generation the opportunity to live in this stunning location," says GBI board member Hübner. This concept will create an attractive neighbourhood in Lindenberg offering a high quality of living. Furthermore, the new properties in Lindenberg also satisfy the requirements of ecological sustainability. In the GBI's first senior living project, this is ensured by such features as green roofs, effective insulation and the installation of charging points for electric cars.