RHE Grundbesitz sells Wilhelminian residential building in Berlin-Schöneberg
In the course of an off-market transaction, the brokerage house RHE Grundbesitz from Berlin-Grunewald has brokered a Wilhelminian residential building in a popular neighborhood of Schöneberg from many years of private ownership to a European investor with a fund structure.
The well-kept, classic old building offers considerable potential in the new letting of vacancies in need of modernization.
With a transaction volume in the mid 7-digit range, the multiplier was just over 30 times the annual net rent.
“The prices for Berlin apartment buildings have been falling for a year, and yet the simultaneous rise in interest rates and the increased equity requirements by banks are making the purchase more difficult for many investors. This is currently noticeable on the market through the reluctance and waiting of potential buyers; Bank-independent, equity-strong buyers like our investor, on the other hand, have significantly less competition. For the second time in 6 months we have been successful for our customer with a really beautiful historic building in the center of Berlin,” says Timo Aulig, a manager at RHE.