Primus Valor has bought 93 properties in Germany from Swiss Life Asset Managers in a three-digit million euro deal.
Swiss Life said it sold the AGORA portfolio, with the help of Corpus Sireo Real Estate, to two investment companies of Primus.
The 1,800 rental units include 1,500 apartments with a total rental area of 123,000sqm and 300 commercial units.
The properties are situated in a total of 35 cities in the states of Baden-Wuerttemberg, Bavaria, Berlin, Brandenburg, Hessen, Lower Saxony, North Rhine-Westphalia, Rhineland-Palatinate, Saarland, Saxony and Thuringia.
Martin Eberhardt, managing director of Corpus Sireo Real Estate, said: “Due to the small units and their distributions over different locations with the considerable total size of the AGORA-portfolios, the transaction was very complex for all involved in the process.
“We are all more delighted that the transfer could successfully take place in only four months.”