Peach Property Group has expanded its real estate portfolio with the acquisition of 901 apartments, 10 commercial units and 589 parking spaces in Kaiserslautern with lettable space totalling around 63,400 sqm. Dr. Thomas Wolfensberger, CEO of Peach Property Group AG, said: “This acquisition enables us to increase our annual target rental income by more than 37 percent to over CHF 16 million. Approximately 85 percent of our rental income now comes from residential property. With this addition, we leverage existing market opportunities in Germany’s B-cities and continue to expand our portfolio in line with our strategy.” The properties were sold by a large German property company; both parties agreed not to disclose the purchase price.
