Berlin-based Capital Bay has announced additional residential acquisitions in Germany.

dresden

Dresden

The properties are in Dresden, Erfurt, Nuremberg and Fürth and are all situated in good or very good locations. The sellers are various fund companies managed by the WIDe Wertimmobilien Deutschland Group, in some cases on its own behalf and in other cases for third parties.

'The portfolio is underrented and thus offers opportunities for Capital Bay to increase rents. As such, it is a perfect fit for our investment strategy,' commented George Salden, CEO of Capital Bay.

The portfolio represents a total rental space of approximately 28,000 m2. The price was not disclosed.