GIEAG Immobilien AG ("GIEAG"), a project developer operating throughout Germany, has successfully sold a residential portfolio with around 22,350 m² of lettable space in the Rhineland-Palatinate municipalities of Speicher and Binsfeld. The portfolio consists of a total of 200 residential units, divided into terraced houses, semi-detached houses and apartment buildings. The properties are located in mature residential structures near Bitburg and have spacious green areas and two playgrounds. The properties had been owned by GIEAG since 2017.
"The sale of the residential units is another milestone in the implementation of our corporate strategy. After all, the optimization of our portfolio through selective sales like this is a building block for the sustainable stability of our company. Our focus continues to be on our core segments of project development and portfolio management with a focus on housing," explains Benjamin Johansson, CEO of GIEAG.
With the buyer, an independent family-owned company from the financial sector, a long-term partner has been gained. In addition to financial services and portfolio management, the company also shows social commitment and is active in the areas of children's aid projects and environmental protection through its own foundation.
GIEAG was advised by the law firm GSK Stockmann.
