Munich-based Domicil Real Estate Group (Domicil), an established, owner-managed investment and real estate service provider, has purchased residential buildings in the Cologne and Frankfurt metropolitan areas. These comprise 500 residential units in Neu-Isenburg, Cologne-Urbach and Frechen, all constructed between 1972 and 1994, with a total area of about 36,000 square metres. The portfolio was sold by the special funds KGAL/HI Wohnen Core 2, which is advised by KGAL Investment Management. Moreover, the company Service-KVG HANSAINVEST was involved in the sale in an administrative capacity, while Cushman & Wakefield accompanied the structured transaction process.
“The purchase of the ‘Four West’ portfolio is another important milestone in our growth strategy with regard to property privatization. The properties have enormous development potential and benefit from the high demand for housing in the metropolitan areas of the cities Cologne and Frankfurt,” explains Andre Schmöller, Chief Investment Officer at Domicil.
Andreas Polter, Head of Residential Portfolio Investment at Cushman & Wakefield, emphasizes: “We find the portfolio convincing because of its attractive size and the excellent locations within metropolitan regions with a strong economy. Once again it became clear that locations in the commuter belts of the Top 7 locations are benefiting from developments on the housing markets.”
The seller exclusively commissioned Cushman & Wakefield with accompanying the transaction. The law firm Heuking Kühn Lüer Wojtek advised the buyer on legal aspects. The technical service provider was the REC Real Estate. It was agreed that confidentiality be maintained on the purchase price.