As part of an exclusive mandate, Newmark brokered the sale of a publicly subsidized housing project in Cologne with a volume of over 20 million euros.
“We are proud of the successful development of our Living business area. With our teams operating throughout Germany, we have built up a strong presence in a short time. This transaction is an example of the successful market entry and the high level of expertise of our colleagues,” says Marcus Lütgering, Country Head Germany at Newmark.
The residential complex was built in the early 2000s and includes several buildings with long-term rental apartments. With the completion of the transaction, Newmark has further expanded its presence in the growing subsidized and affordable housing segment. This sub-market is becoming increasingly important for both institutional and private investors due to the structural housing shortage, stable yields and high demand. Family offices also continue to show great interest in residential real estate, which is causing the number of transactions to rise noticeably.
“This transaction shows that the market for residential investments, including in the segment of subsidized existing residential complexes, continues to have a high level of liquidity,” says André Berger, Senior Managing Director and Co-Head of Living Capital Markets Germany at Newmark.
Tobias Köhler, Senior Managing Director and Co-Head of Living Capital Markets Germany at Newmark, adds: “We are observing a noticeable revival in transaction activity, driven by an increasing commitment from German institutional and medium-sized investors. North Rhine-Westphalia and in particular the metropolitan region of Cologne, Düsseldorf and the Ruhr area play a central role in our further expansion.”
Newmark manages a large number of mandates in the field of living capital markets, spread throughout Germany. These include existing residential complexes, plots in top 7 cities and large-volume portfolios as well as project developments.
