Buwog Group acquires real estate properties in northern Germany

Buwog Group acquires real estate properties in northern Germany

Published at: 2018-01-09 10:55 | Author: CIJ Europe
Buwog Group has acquired a portfolio of residential and commercial real estate assets in the metropolitan region of Hannover and Bremen as well as in Kiel, Lübeck and Lüneburg. The purchase price was not disclosed. The deal includes 693 residential units, 32 commercial units and 386 parking spaces in 34 properties. The real estate package has a total floor area of around 41,300 sqm. The properties are predominantly from the 1980s. The current vacancy rate is 6 percent. The average actual rent is €7.36 per sqm. PMM Partners advised the buyer.

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