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Magna AM purchases resi development from Fuchs in Nuremberg

Magna Asset Management has secured a residential project from project developer Fuchs & Söhne in Nuremberg for its special AIF Magna Wohnen 01. This is the second deal in the metropolitan region within 12 months. Just last September, the asset manager acquired the „Da.Heim 5“ residential project in Oberasbach in central Franconia - southwest of Nuremberg - which is scheduled for completion at the end of 2020. It will then also be included in the special AIF.


„Nuremberg is an interesting investment location for us because of its favourable population development and high employment density. As a future-oriented high-tech, industrial and service hotspot and with its new technical university currently under construction, Nuremberg will continue to be in high demand, particularly in the residential market,“ explains Jochen Ackermann, CEO of Magna Asset Management AG.

Wohnkomplex in der Lehrberger Straße in Nürnberg. © Firmenfamilie Fuchs
The project developer Fuchs & Söhne is building a total of 40 residential units with a rental area of around 2,900 m² and 40 underground parking spaces on a site of around 3,900 m² at Lehrberger Strasse 54-56. The property is expected to be completed by the end of 2021.