Aerial view over Munich's residential rooftops with the St Peter's Church tower and the Alps on the horizon

Residential Real Estate

Residential Real Estate

Investing in housing supported by enduring demand and constrained supply.

  1. Across the DACH region, demand for well-located housing continues to outpace supply. Germany alone is estimated to face a shortage of approximately 1.35 million homes, while higher construction costs and complex development conditions continue to restrict new supply.

  1. This imbalance creates opportunities in existing residential assets, particularly where market repricing, fragmented ownership or under-management have limited their potential. We seek to acquire assets below replacement cost and maintain conservative leverage to protect against downside risk.

  1. Limestone combines disciplined investment with hands-on asset management and a dedicated property-management company within the investment platform. This integrated model gives us direct control over leasing, operations, capital expenditure and energy performance, allowing us to unlock embedded operational upside and build resilient portfolios that generate durable income and long-term value.

0.00m

Homes missing in Germany today

0%

of Germans live in rented homes

c.0%

Existing homes trade below new-build cost

Sources: Pestel-Institut; Eurostat; ARGE Kiel; CBRE.

Where we invest

Three focused strategies for an undersupplied residential market.

Strategy 01

Basic Living

Existing housing stock in established cities, focused on attractive capital values, strong current income and steady, moderate rental growth.

Investment focus
Running cash flow
Asset vintage
1950-1970
Purchase price
Below €2,000 per m²

Strategy 02

Manage to Prime

Housing close to universities and employment centres, with the potential to reposition selected units into furnished apartments or student accommodation and improve energy performance.

Investment focus
Value uplift and repositioning
Asset vintage
1960 or later
Purchase price
Below €3,000 per m²

Strategy 03

Effortless Living

Modern serviced and furnished apartments for students and young professionals, combining flexible living with an all-inclusive service offering.

Investment focus
Premium, flexible living
Asset vintage
Modern
Purchase price
Below €4,500 per m²

The criteria shown are indicative and may vary according to the asset, location and prevailing market conditions.

Portfolio

Residential Real Estate Portfolio

Modern apartment building on a street corner in Wiesbaden under a blue sky

Strategy 03 · Effortless Living

Wiesbaden

Wiesbaden, Hesse, Germany

A serviced-apartment asset with 47 apartments and one commercial unit. The business plan converts underused space into up to ten additional apartments while improving the building’s energy efficiency.

Acquired
Sep 2026
Existing serviced apartments
47
Planned additional apartments
+10
Residential architecture

Residential pipeline

More to be announced

Additional residential investments are currently in development.