Berlin-based Capital Bay GmbH has signed the purchase agreement for the acquisition of a further residential portfolio with properties in good urban and suburban locations. The portfolio comprises around 300 residential and 20 commercial units and is spread across prosperous cities in Bavaria and Saxony with a focus on Dresden and Nuremberg. The total rental space amounts to just under 20,000 m². The core properties have a very low vacancy rate of less than 5 percent. “We are thus continuing our investment strategy in high-growth B-cities,” says Ralph Ziegler, Managing Partner of CB Transaction Management GmbH. “The properties are an excellent fit for our special fund CB Wohnimmobilien Deutschland due to their very good quality.” The seller of the properties is the WIDe Wertimmobilien Deutschland Group from Ebermannstadt. The purchase price is in the lower double-digit million euro range.
Torsten Doyen, Managing Partner of CB Capital Management GmbH, adds: “We are delighted that we have received the first subscriptions from insurance companies and pension funds for the special fund.” The transfer of ownership, benefits and encumbrances of the properties is scheduled for the end of the year.
Capital Bay was legally advised by Jung & Schleicher Rechtsanwälte.
