Berlin-based property company IMW Immobilien has signed a letter of intent for the acquisition of several property portfolios valued at EUR 365 mln from the Curacao-based Hofer 2 Corporation and its Amsterdam subsidiary Valbonne Real Estate. The portfolios consist of more than 7,200 residential and commercial units, with a total usable space of about 470,000 m2, in Berlin, Berlin-Hellersdorf, Halle and several cities in North Rhine-Westphalia. The annual rent income comes to EUR 25 mln.
Berlin-based property company IMW Immobilien has signed a letter of intent for the acquisition of several property portfolios valued at EUR 365 mln from the Curacao-based Hofer 2 Corporation and its Amsterdam subsidiary Valbonne Real Estate. The portfolios consist of more than 7,200 residential and commercial units, with a total usable space of about 470,000 m2, in Berlin, Berlin-Hellersdorf, Halle and several cities in North Rhine-Westphalia. The annual rent income comes to EUR 25 mln.
The transaction is subject to a due diligence process and approval by the boards of both IMW and Hofer 2 Corporation. The property management shall be carried out by IMW. Through the acquisition, IMW will increase its long-term property assets to 14,000 units, worth EUR 850 mln.
The German company intends to acquire additional properties from the seller's side. These properties are held by the Van Riemsdijk family in London and by property investors Tom Moeskops and Harrie van de Moesdijk who are based in the Dutch city of Eindhoven.
