The buyer is the investment company of Primus Valor AG
Domicil Real Estate AG has sold 68 residential units and 64 garage parking spaces of a residential property in Koblenz to Primus Valor from Mannheim as part of an asset deal. The property was completed in 1980 and is currently 100 percent let. The units were managed and sold under an asset and portfolio management mandate.
The buyer is the alternative investment fund "ImmoChance Deutschland 12 Renovation Plus" of the Mannheim-based issuing house Primus Valor. This fund series focuses on existing German residential properties with potential for further development and value enhancement.
"We are proud to be able to hand over the property to Primus Valor in such excellent condition," explains Stefan Fuchs, Managing Director at Domicil Real Estate Group. "The increasing number of block sales is a clear indicator of the increasing market momentum and the confidence of institutional investors in the long-term developments, especially in the area of the residential portfolio."
Legally, Domicil was supported by the law firm Osborne Clarke, while Lübke Kelber acted as a broker.
