GIEAG Immobilien has sold a residential portfolio with approximately 22,350sqm of rental space in the Rhineland-Palatinate municipalities of Speicher and Binsfeld, in Germany.
The portfolio comprises a total of 200 residential units, including terraced houses, semi-detached houses, and apartment buildings. GIEAG has owned the properties since 2017.
“The sale of these residential units marks another milestone in the implementation of our corporate strategy. Selective sales such as this one are an important component of optimising our portfolio, thereby ensuring the long-term stability of our company.
“Our focus will remain on our core segments of project development and portfolio management, with a particular emphasis on residential properties,” said Benjamin Johansson, member of the executive board of GIEAG.
The buyer is an independent family-owned company from the financial sector.
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