BUWOG, a wholly owned subsidiary of IMMOFINANZ Group, has acquired a residential portfolio in Germany. This package covers 1,916 apartments with 126,233 sqm of rentable space in Berlin-Neukölln. The seller is Capricornus, the Germany real estate subsidiary of the Euréal Group. The parties have agreed not to reveal any information on the purchase price for the transaction. The acquisition is subject to the approval of the cartel authorities.
The acquired portfolio covers 40 buildings that form a large residential complex. All the apartments are large and family-friendly, and also include a balcony or terrace.
At the beginning of April BUWOG announced the profitable sale of 781 apartments in Carinthia. Sales in the other Austrian provinces are expected over the coming quarters.
