The residential buildings in southeastern Luneburg were acquired in 2019 after several years of insolvency as part of a forced sale procedure. At the time of purchase, the portfolio of around 260 apartments showed considerable vacancies and a high proportion of tenants with poor payment practices. Due to many years of insolvency and the associated investment backlog, the buildings require comprehensive renovation measures. The existing floor area is approximately 16,000 m² with an equally large plot of land. In addition to reducing vacancies, the current focus is on upgrading the buildings and developing the neighbourhood. The aim is to revitalise the properties and create a residential quarter worth living in.