In several individual sales, Aengevelt brokers ten fully let apartment buildings in Magdeburg for an almost double-digit million euro amount to several family offices and regional portfolio holders. In total, the properties comprise around 110 apartments with around 8,000 m² of rental space. The sellers are various institutional investors, each of whom has exclusively commissioned Aengevelt Magdeburg with the sale as part of portfolio restructuring. The purchase price was not disclosed.
Annett Lorenz-Kürbis, branch manager of Aengevelt Magdeburg, comments: “In Magdeburg, we are seeing a continuing brisk demand for needs-based apartments of all categories and size classes. In the present cases, the buyers quickly recognized the resulting development and value creation prospects and consistently took advantage of their acquisition opportunities.”
“The properties we broker are located in sought-after residential districts in the districts of Sudenburg, Stadtfeld-West, Salbke and Berliner Chaussee and prove that investor demand is not limited to individual local focal points, but extends over a broad urban area with the appropriate property and location quality. At the same time, buyers benefit from a yield level that is significantly higher than that of comparable residential investments in the Big Seven,” adds André Bühlig, Deputy Branch Manager of Aengevelt Magdeburg.
