Wertgrund Immobilien AG has sold a residential complex in Bergisch Gladbach, near Cologne, to Domicil Real Estate AG. The Newmark Capital Markets Living Team advised the seller and acted as broker on the transaction. The 88 units comprise a total usable floor area of just under 7,000 m². The parties have agreed not to disclose the transaction value.
The “Trio Verde” residential complex comprises three buildings at Wilhelmshöhe 3, 4 and 6, which were built in 1969 on a total site area of 13,700 m². There are also 83 car parking spaces. The complex, which is almost fully let, has already been largely modernised: of the 88 residential units, averaging 79 m² in size, 58 have been fully refurbished and a further twelve have been partially refurbished. With the acquisition of the residential complex, Domicil Real Estate AG plans to continue its privatisation strategy and market the flats individually.
