• Conversion and extension work to be completed by end of 2022
• Planned total rental area of around 4,700 square metres

Real I.S. AG has acquired a development property in Hamburg’s university quarter for its special real estate alternative investment fund Real I.S. Wohnen I. Seller is WIB Wall-Immobilienbesitz GmbH & Co. KG VI which is part of the HIPE Hamburger Immobilien Projekt- und Entwicklungsgesellschaft mbH, a Hamburg-based project development group. The parties have agreed that the purchase price paid will not be disclosed.