Siemens has sold a residential real estate portfolio to a consortium comprising of Bonn-based Wohnbau, the GBW Gruppe and Volkswohnung. The parties agreed not to reveal the purchase price.
Siemens has sold a residential real estate portfolio to a consortium comprising of Bonn-based Wohnbau, the GBW Gruppe and Volkswohnung. The parties agreed not to reveal the purchase price.
Siemens said the sale largely takes into account the interests of all tenants with regard to occupancy, protection against unwarranted eviction and limits on rent increases and resale. The transaction is subject to approval by the antitrust authority.
Siemens has disposed of a total of some 4,000 dwellings, of which about 2,300 were in Erlangen, Germany, 1,100 in Munich, Germany, and 530 in Karlsruhe and Bruchsal, Germany.
