January 9, 2018 / 9:31 AM / 5 months ago

BRIEF-Buwog buys N. Germany portfolio

Jan 9 (Reuters) - Buwog:

* ‍BUWOG GROUP HAS ACQUIRED AN EXTENSIVE PORTFOLIO OF RESIDENTIAL AND COMMERCIAL REAL ESTATE IN METROPOLITAN REGION OF HANNOVER AND BREMEN AS WELL AS IN KIEL, LÜBECK AND LÜNEBURG​

* ‍PURCHASE AMOUNTS TO A TOTAL OF 693 RESIDENTIAL UNITS, 32 COMMERCIAL UNITS AND 386 PARKING SPACES. REAL ESTATE PACKAGE TOTALLING 34 PROPERTIES HAS A TOTAL FLOOR AREA OF AROUND 41,300 SQM​

* ‍CURRENT VACANCY RATE IS 6%. AVERAGE ACTUAL RENT IS EUR 7.36 / SQM​

* ‍WE WILL ALSO ENHANCE ATTRACTIVENESS AND REDUCE VACANCIES TO 2%​

* ‍CONFIDENTIALITY ON PRICE OF TRANSACTION AND BUYERS REPRESENTED BY PMM PARTNERS HAS BEEN AGREED​ Source text for Eikon: Further company coverage: (Reporting By Shadia Nasralla)

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