Deutsche Investment is expanding its investment focus to include the Cologne/Düsseldorf metro region: on behalf of its separate asset pool “Deutsche Investment – Wohnen V,” the company acquired a portfolio containing 212 residential and 18 commercial units scattered across a total of eleven different properties in Düsseldorf and Cologne. The total investment volume for all of the properties approximates 65.5 million euros. The seller was a family office. Aengevelt Immobilien acted in an advisory role during the transaction.
Among the key characteristics of the purchased assets is that they are located in downtown areas, have convenient transportation access and are subject to keen tenant demand, the latter fact being reflected in a high occupancy rate. The properties Düsseldorf are located in the boroughs 1, 3 and 7. The properties in Cologne are located in the inner-city districts of Ehrenfeld and Porz. All of the portfolio assets are almost fully occupied. The transfer of benefits and burdens will take place in early 2021. To manage the properties, the corporate conglomerate of Deutsche Investment and EB GROUP will open an office in Düsseldorf that will be staffed with a team of property management, lettings management and facility management specialists as of 4 January 2021. Together with the existing offices in Hamburg, Berlin, Nuremberg and Dresden, opening the office in Düsseldorf will bring the number of cities where Deutsche Investment maintains a presence on the ground up to five.
Source : Company