Listed German investment company Colonia Real Estate said this week that it has increased its stake in two residential property companies from 51% to 99.24% by prematurely exercising its call option on BGP Investment's holding in the companies. Together the companies hold 9,857 residential units in Aachen, Freiburg, Hamburg, Kiel, Cologne, Osnabrück and Salzgitter with an aggregate of around 623,000 m[sup]2[/sup]. Neither Colonia nor BGP disclosed the purchase and option exercise price.
Listed German investment company Colonia Real Estate said this week that it has increased its stake in two residential property companies from 51% to 99.24% by prematurely exercising its call option on BGP Investment's holding in the companies. Together the companies hold 9,857 residential units in Aachen, Freiburg, Hamburg, Kiel, Cologne, Osnabrück and Salzgitter with an aggregate of around 623,000 m2. Neither Colonia nor BGP disclosed the purchase and option exercise price.
With total residential holdings of about 20,000 units, Colonia say it has grown to become one of the largest listed German real estate companies. Commenting on the deal, Colonia ceo Stephan Rind said the company was planning further residential real estate acquisitions over the next twelve months that would take their total holdings to at least 30,000 residential units.