RHE brokers two residential complexes with 400 apartments

The real estate company RHE Grundbesitz, which specializes in brokering investment properties, has announced the sale of two residential complexes with a total of around 400 units in Saxony-Anhalt. The solid buildings from the 1970s and 80s are located in the towns of Burg near Magdeburg and Thale in the Harz Nature Park, close to the border with the state of Lower Saxony.

After a general renovation of the buildings in the late 1990s, all apartments were gradually modernized and equipped with balconies and new windows.

With a vacancy rate of 7.5% and average rents of just €4.50 to €5.50 net cold per square meter, the complexes offer potential for the future development of rental income.

The buyer of the property is a private investor from North Rhine-Westphalia who was advised by the Munich-based REITS Family Office. The parties have agreed not to disclose the purchase price.

“These are two well-managed and solid residential complexes in functioning locations. We are delighted for both sides about the successful deal”

Hassan Tohme

Senior Real Estate Consultant

http://www.deal-magazin.com/news/1/141389/RHE-vermittelt-zwei-Wohnanlagen-mit-400-Wohnungen