Berlin-based investor Juniqo Invest, in cooperation with a Bavarian partner, has bought nine apartment buildings including a total of 225 residential units, in several individual transactions.
The investment volume was around €15 mln. All properties were acquired for the company's own portfolio.
The nine residential properties have a total of 15,300 m2 of rental space. The assets include three buildings in Magdeburg, two each in Halle and Altenburg and one each in Erfurt and Leipzig. The purchase of further properties in these cities is currently being examined.
Most of the properties are refurbished Wilhelminian-style buildings in inner-city locations. Overall, the occupancy rate is over 95%. After necessary renovation measures, the few vacant apartments will be quickly placed on the housing market again, Juniqo said.
The deal follows another key buy this summer when the company invested €21 mln in six apartment buildings in Berlin. In addition to Berlin, Juniqo is focusing on building a nationwide portfolio for further diversification.
Nino Nowack, CEO and founder of Juniqo Invest, said: 'We are very pleased that we were able to successfully invest in residential properties again thanks to our good network.
'Living space, especially in the affordable segment, is rare across Germany. It is precisely in this segment that we have our core competence. We are seeing good demand, especially in the major cities in eastern Germany, so we see future development as very positive.
'With the current acquisitions, we have focused on good building stock with stable tenants. Our goal is to build up a long-term portfolio of stable value in good locations in the respective city.'
JUNIQO Invest specialises in the management and structuring of real estate transactions. Its own-portfolio investment strategy comprises residential and commercial properties, as well as project developments with a volume of up to €50 mln. The firm focuses geographically on Berlin, Leipzig and other central locations in large and medium-sized German cities.
