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Velero buys a portfolio of approx. 530 residential units for a real estate fund from Luxembourg.

21. November 2018

Locations Halle, Naumburg and Bernsdorf

Velero has acquired another residential portfolio for a Luxembourg-based real estate fund. This involves 528 residential units in Bernsdorf in Saxony and the cities of Naumburg and Halle in Saxony-Anhalt.

The portfolio generates an annual net cold rent of around €1,650,000. With the portfolios already acquired in the region in recent years, Velero was able to further strengthen its presence in Saxony and Saxony-Anhalt with this acquisition.

“With this acquisition, we are strengthening our presence in the Central Germany region, where we already manage almost 2,000 units. This transaction is another important step in our planned growth. We want to continue our growth this year and are planning further acquisitions.

The focus is on portfolios comprising at least 200 residential units. In locations where we are already represented, we are also examining acquisitions with at least 50 residential units,” says Thomas Lange, Managing Director of Velero.

Velero was advised by the law firm Greenberg Traurig Germany, LLP, Berlin, during the contract negotiations. The technical due diligence was carried out by BBT GmbH, Berlin. The notarization was carried out by the notary Geffin from Berlin.