- Lloyd Fonds AG will be working with Stadterneuerungs- und Stadtentwicklungsgesellschaft Hamburg mbH steg
- Initially entail rental management for the properties by Lloyd WohnWert GmbH & Co. KG aA
The Hamburg-based investment and asset manager Lloyd Fonds AG will be working with Stadterneuerungs- und Stadtentwicklungsgesellschaft Hamburg mbH (steg) on affordable housing projects. According to Lloyd Fonds, the partnership will initially entail rental management for the properties acquired or constructed by Lloyd WohnWert GmbH & Co. KG aA (WohnWert) except where they are tied to third parties. Originally established as a city-owned company by the Hamburg Senate, steg today addresses all relevant skills including project development, urban and district development, end-to-end transparent communication of planning processes and construction projects as well as architecture and urban planning. A further option for successful joint activities is seen in project acquisition as well as urban district development, initially in Hamburg and later on in metropolitan regions across Germany.
“We have found in steg a strong partner for WohnWert whose experience and network will drive forward the assembly of a real estate portfolio for affordable housing,” says Dr. Torsten Teichert, CEO of Lloyd Fonds AG. Adds Hans Rösner, managing director of steg: “We have been playing an active role in urban development for more than 25 years. In Hamburg, we have developed joint activities with the local population and private real estate companies as well as the city government in all urban district development processes. This is the future of modern and socially balanced urban and district planning.”
After 18 months of preparation, Lloyd Fonds AG incorporated Lloyd WohnWert GmbH & Co.KG aA at the beginning of November of this year as a vehicle to provide investors with an opening in the growing market of government-funded housing construction.