Patrizia Immobilien announced on Wednesday that it has notarized the sale of 79 residential units and six commercial units located to the southwest of Munich. The assets, comprising 7,800 m2, were acquired by a private investor for an undisclosed price. But Patrizia said the sale generated a factor of around 23 more than the actual net rent.
Patrizia Immobilien announced on Wednesday that it has notarized the sale of 79 residential units and six commercial units located to the southwest of Munich. The assets, comprising 7,800 m2, were acquired by a private investor for an undisclosed price. But Patrizia said the sale generated a factor of around 23 more than the actual net rent.
'This transaction enables Patrizia to emphasise its strategic orientation of working more intensively in the area of block sales, alongside the individual sale of residential units in private resale. Residential property resale is now and will remain a business focus for Patrizia, although the asset repositioning segment and the associated block sales present a sales strategy of equal value,' the German real estate group said.
Patrizia is listed in the Deutsche Borse Prime Standard and is a member of the SDAX.
