Real estate broker Catella said on Tuesday that it has advised on the sale of 1,400 apartments in the north of Berlin for EUR 80 mln. The buyer was an unnamed Dutch investor.
Real estate broker Catella said on Tuesday that it has advised on the sale of 1,400 apartments in the north of Berlin for EUR 80 mln. The buyer was an unnamed Dutch investor.
Klaus Franken, managing partner for Catella in Germany, said negotiations for other sales in Berlin are under way and in spite of the 'sinking transaction volumes on the real estate market', he is optimistic about new deals. 'We expect new sales on a scale of up to EUR 100 mln before the end of the year.'
'There is a recognisable trend toward long-term investments that aim at ownership periods of 10 years or more.' These cases, he added, include selected properties for which high-level debt financing continues to be available.
