KKR and Velero expand portfolio by a further 1,625 units
The 1,625 residential units acquired by KKR and Velero are located in North Rhine-Westphalia and Saxony-Anhalt. The seller was a family business from NRW.
The units are primarily located in the cities of Duisburg, Gelsenkirchen, Krefeld and Ahlen, with additional apartments in Bochum, Recklinghausen, Witten, Wuppertal and Hagen. With stable rents, a robust labor market and a strong overall economic environment, NRW has a particularly attractive real estate market. By acquiring the portfolio, Velero is further expanding its presence in this region, enabling efficiency gains in asset, property and facility management and ensuring efficient and high-quality services for tenants.
Thomas Lange, Co-CEO of Velero: “After acquiring the portfolio from the Adler Group, we have now made another strategic investment in Germany in partnership with KKR. As a specialist in the repositioning of residential real estate, we will improve the quality of the newly acquired apartments and reduce vacancy rates. The apartments fit perfectly into our portfolio as we know most of the locations and sites through an existing local presence.”