Berlin-based investment house Capital Bay has acquired a residential portfolio in Bavaria for an undisclosed investment volume.
The portfolio consists of 260 residential units and 60 commercial premises.
Capital Bay described the properties as mainly historic buildings, some of which are listed, in the cities of Nuremberg, Fürth, Munich and Deggendorf
The portfolio already has an occupancy rate in excess of 90%. But George Salden, CEO of Capital Bay, still sees good opportunities for growth: 'We aim to increase total rental space by way of targeted renovation and conversion measures in the medium term, particularly in good and very good locations.'
