Corestate Capital has announced the sale of a German residential portfolio with a small portion of commercial units to an unnamed international investor for €103 mln.
Corestate Capital has announced the sale of a German residential portfolio with a small portion of commercial units to an unnamed international investor for €103 mln.
The portfolio comprises 2,700 residential and commercial units spread across five German states of Bavaria, Lower Saxony, North Rhine-Westphalia, Saxony and Saxony-Anhalt.
Corestate said it implemented a capex programme on the portfolio to improve the performance of the assets, which were acquired in a period of 'high tension' in the German real estate market.
'Through active asset management, and taking advantage of our fully integrated property management company Capera, we were able to successfully reposition the properties,' said Corestate CEO Sascha Wilhelm.
