Velero buys residential portfolio in Neuruppin for Asterion.

Neuruppin

Velero has acquired another residential portfolio for Luxembourg-based Asterion. This involves 339 residential units in Neuruppin, Brandenburg. The properties were extensively refurbished between 1999 and 2001.

The fully let portfolio generates an annual net cold rent of around €1,329,000. With the acquisition of the portfolio in Wittstock in January of this year, Veler has further strengthened its presence in Brandenburg.

This purchase increases the Asterion Group’s portfolio to 4,350 residential units. “Neuruppin is a location that has developed positively and that we are convinced will continue to do so. This transaction is an important step for 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 Sascha Giest, Managing Director of Velero.

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