TAG Immobilien AG has acquired a 1,500 unit residential portfolio in Saxony for €37.8m. The properties it’s acquired are located in Dresden, Chemnitz and Freiberg and offer a total of 85,000 sqm, generating annual rental income of €3.7m. The partially-renovated properties built in the 1970’s and 80’s are currently carrying a vacancy rate of 13%. TAG Immobilien AG is a MDAX-listed real estate group focusing on the development, acquisition and management of residential properties.
