Deutsche Asset One GMBH plans to spend €500 million on German residential units over the next two years, Property Investor Europe reported, citing Deutsche Asset managing director Thilo von Stechow.

The company has bought 750 units in the country for €90 million from a number of German family offices in off-market deals on behalf of two Union Investment mandates. The purchased units are located in Hamburg, Leipzig, Magdeburg and Saarbrücken.

Union Investment has acquired roughly €500 million worth of residential real estate in the past two years on behalf of the two mandates, the news outlet added.