Velero Partner and Asterion buy real estate portfolio with 84 units
May 25, 2016
A residential complex with a total of 84 units was purchased today in Cottbus. The completely renovated, fully let property is in an exceptionally good technical condition. The seller of the property with a living space of 5,070 m² is a property company held by private individuals. The parties have agreed not to disclose the purchase price.
This is already the third purchase within 3 months. In March and April Velero from Berlin has already acquired 2 residential property portfolios with a total of approx. 1,460 units for Asterion Wohnen. With this purchase the residential portfolio grows to 1,550 residential units. Further purchases are being examined and are expected to be finalized shortly. We are looking for portfolios and properties with a minimum of 100 residential units throughout Germany. The portfolios should have a good technical condition and a letting rate of at least 75%.
Velero will take over the asset management of the portfolio.
The portfolio was brokered by Ruhrwert from Oberhausen. Velero and Asterion were advised in the contract negotiations by the law firm Greenberg Traurig Germany, LLP, Berlin.