Deutsche Investment Sells Office Property in Berlin for EUR 10.2m

Hamburg, 19 June 2019 – The German property company Deutsche Investment Kapitalverwaltungsgesellschaft mbH just sold an office property from its “Deutsche Investment – Wohnen II” institutional fund, launched in 2015, for the price of 10.2 million euros. The property was acquired by a property company from Hamburg. The transfer of benefits and burdens took place on 01 June 2019.

Raised in 1993, the office property is located in Berlin’s district of Wedding and has a usable area of around 3,338 sqm. The tenant base consists to 75 % of social services organisations and educational facilities. The property had been picked up within the framework of a portfolio acquisition for the “Deutsche Investment – Wohnen II” investment fund and was now sold in conjunction with a portfolio optimisation.

"In the context of our strategic portfolio optimisation, it is important to us to strengthen the fund’s residential focus in the cities of Berlin and Hamburg. Due to our elimination of considerable vacancies that existed at the time of the acquisition, and thanks to the current market cycle, we achieved a substantial appreciation for the property,” said Michael Krzyzanek, Managing Director for Portfolio Management at Deutsche Investment. “We will reinvest the sales proceeds swiftly in the best interest of our investors, e.g. in the infill densification of portfolio properties, implemented by our in-house property development department.”

Deutsche Investment was advised by the tax consultancy and law firm of GSK Stockmann Rechtsanwälte Steuerberater Partnerschaftsgesellschaft mbB. Angermann Investment Advisory AG in Berlin mediated the transaction in an advisory role.

 

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Deutsche Investment Sells Office Property in Berlin for EUR 10.2m

Hamburg, 19 June 2019 – The German property company Deutsche Investment Kapitalverwaltungsgesellschaft mbH just sold an office property from its “Deutsche Investment – Wohnen II” institutional fund, launched in 2015, for the price of 10.2 million euros. The property was acquired by a property company from Hamburg. The transfer of benefits and burdens took place on 01 June 2019.

Raised in 1993, the office property is located in Berlin’s district of Wedding and has a usable area of around 3,338 sqm. The tenant base consists to 75 % of social services organisations and educational facilities. The property had been picked up within the framework of a portfolio acquisition for the “Deutsche Investment – Wohnen II” investment fund and was now sold in conjunction with a portfolio optimisation.

"In the context of our strategic portfolio optimisation, it is important to us to strengthen the fund’s residential focus in the cities of Berlin and Hamburg. Due to our elimination of considerable vacancies that existed at the time of the acquisition, and thanks to the current market cycle, we achieved a substantial appreciation for the property,” said Michael Krzyzanek, Managing Director for Portfolio Management at Deutsche Investment. “We will reinvest the sales proceeds swiftly in the best interest of our investors, e.g. in the infill densification of portfolio properties, implemented by our in-house property development department.”

Deutsche Investment was advised by the tax consultancy and law firm of GSK Stockmann Rechtsanwälte Steuerberater Partnerschaftsgesellschaft mbB. Angermann Investment Advisory AG in Berlin mediated the transaction in an advisory role.

 

Download the press release

Go back

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