A prominent estate is selling a fully let apartment building in the sought-after Cologne district of Ehrenfeld via Aengevelt in an exclusive mandate in an off-market placement. The buyer is a renowned family office from North Rhine-Westphalia that focuses on housing stock. The purchase price was not disclosed. The gross initial yield is stated at around 4.6% p.a.
The house was rebuilt in the 1950s and has a high level of rental security due to the sought-after apartment sizes and well-designed floor plans in a popular district location. In addition, with an average basic rent of less than EUR 9/m² of living space and a favourable purchase price of around EUR 2,260/m² of living space, the property offers significant rental and thus value appreciation potential after needs-based modernisation. The buyer, who is familiar with the industry, has carefully analysed the potential of the property and resolutely secured the property. The bank finances a good 80% of the purchase price.
