November 21, 2019: Velero has acquired another residential portfolio for a Luxembourg based real estate fund. The portfolio consists of 528 residential units in Bernsdorf in Saxony and the cities of Naumburg and Halle in Saxony-Anhalt.

 

The portfolio generates an annual net cold rent of approx. 1,650,000 €. With the portfolios already acquired in the region in recent years, Velero was able to further strengthen its presence in Saxony and Saxony-Anhalt with this acquisition.

 

"With this purchase, we are strengthening our presence in the Central German region, where we already service almost 2,000 units. This transaction is a further important step for our planned growth. We intend to continue our growth this year and are planning further acquisitions.

 

The focus is on portfolios comprising at least 200 residential units. In locations where we are already represented, we are also considering acquisitions of at least 50 residential units", says Thomas Lange, Managing Director of Velero.

 

Velero was advised in the contract negotiations by the law firm Greenberg Traurig Germany, LLP, Berlin. The technical due diligence was carried out by BBT GmbH from Berlin. The notarization was carried out by the notary Geffin from Berlin.