100% let space with a total of 3,975 m² of living space
Domicil Real Estate AG has sold 50 residential units in the northeast of Berlin as part of an asset deal. The property in question was built in 1997 and is currently 100 percent let. Kauri CAB Group acted as investment manager on the acquisition for a pension fund. The units were managed and sold by Domicil as part of an asset and portfolio management mandate.
In total, the sold property consists of 50 residential units on a total of 3,975 square metres, plus four commercial units and 30 parking spaces. The underground car park of the property was recently renovated. "After our block sale in Koblenz, which only took place in March, we see that the market for institutional investors is becoming more lively again – increasingly also in the A-cities such as Berlin," says Stefan Fuchs, Managing Director at Domicil Real Estate Group. "We are pleased to be able to hand over such a high-quality property to the buyer in good condition and with a freshly renovated underground car park. In addition, we can boast an occupancy rate of 100 percent."
Legally, Domicil was supported in the sale by the law firm Osborne Clarke, and CBRE was on hand as a brokerage firm.
