A joint venture between Frankfurt-based investor Forte and a fund managed by Proprium Capital Partners has acquired a residential portfolio in western Germany.
Neither the financial details nor the identity of the vendor were disclosed, but the buyers said the seller of the portfolio was ‘a US investor group’.
The portfolio comprises around 130,000 m2 of rental space, spread across 2,000 housing and business units in the cities of Dortmund and Bochum.
It is the third time that Forte and Proprium have teamed up on a residential transaction. Since October 2016 the pair have jointly purchased 4,600 housing units in North Rhine-Westfalia and northern Germany.
