Purchase of a residential portfolio with 467 residential units (average rent: 3.93 €/m) in the Upper Palatinate Forest region. Attractive net purchase price of €17m (€487/m²). Low vacancy rate (approx. 5 per cent) and geographic concentration enable efficient and active asset management approach.

Highly successful asset management and an associated rent increase were achieved by targeted refurbishment measures and a long-term reduction of vacancies.
The portfolio was then sold to private investors in the form of small-scale packages at favourable selling prices.

The business plan was thus significantly outperformed.