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ECE Living acquires 292 residential units in Scotland

ECE Living, the ECE Group company specializing in residential investments, has acquired the "Forbes Place" residential complex with 292 apartments in Aberdeen, Scotland, for an institutional investor. ECE Living consulted the investor on the acquisition and is responsible for the asset and investment management of the property. The transaction once again underlines ECE's expertise in the European residential real estate segment. The existing portfolio managed by ECE thus grows to around 2,500 residential units in the United Kingdom alone.

"Thanks to ECE's established UK network, the investor in this off-market transaction benefits from a purchase price well below replacement cost and thus secures an attractive distribution yield and a highly attractive risk-return profile in the current market environment," comments Jan-Hendrik Walloch, Managing Partner of ECE Living.

The almost fully let residential complex "Forbes Place" was developed by ECE's long-standing partner Dandara and completed in 2016 and is located in a park-like setting in the suburb of Stoneywood, approx. 7 km northwest of Aberdeen city center. The property offers 292 rental apartments and townhouses with 1 to 4 rooms as well as 413 parking spaces.

The efficiently designed and mostly fully furnished apartments offer fitted kitchens as well as balconies or terraces and thus meet the high demand for modern, well-equipped rental apartments in the Scottish university city of Aberdeen, which, as the "energy capital" of the UK, is becoming increasingly important in the field of sustainable energy alongside the traditional oil and gas industry.

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