Transactions - FEBRUARY 23, 2017

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

French REIT spends €202 on German apartments

by Andrea Waitrovich

Foncière des Régions, a French REIT, has acquired a 1,800-unit German residential portfolio for €202 million ($214 million). A seller was not disclosed in its annual report.

Three-quarters of the apartments are located in Berlin (76 percent), in the boroughs of Mitte (27 percent), Neukölln (26 percent), Friedrichshain-Kreuzberg (14 percent) and other Berlin (14 percent). The remaining units are located in Leipzig.

The average purchase price of the Berlin units is quoted at €2,100 per square meter, ($207 per square foot) with rental income of €6.70 per square meter per month ($0.66 per square foot per month).

At the end of 2016, FDR’s German portfolio encompassed 40,700 apartment units worth about €4 billion ($4.2 billion).

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?