Real estate investment firm Zaga Capital Partners is expanding its footprint in Germany with the acquisition of a 1,010-unit residential portfolio.
Zaga, which is acquiring the assets through its portfolio company Net Zero Properties (NZP), has agreed to acquire the 57,800sqm portfolio, which comprises seven clusters across Northern Germany.
Once the deal completes, NZP’s total portfolio will exceed 15,400 residential units across Germany, with current annual net rental income surpassing €77m, Zaga said.
Antonio Galea, founding partner of Zaga Capital Partners, said: “This acquisition is a strong example of what we set out to deliver when we announced our first close in March - disciplined, off-market deployment into high-quality residential assets at an attractive entry point.
“Northern Germany is a market where we have significant experience, and increasing our operational presence there is expected to support our ability to deliver sustainable, long-term value for investors.”
To read the latest IPE Real Assets magazine click here.
