Velero and Asterion buy over 1,350 apartments in NRW and Saxony-Anhalt

September 29, 2016

 

In August and September, Velero has successfully notarized more than 1,350 apartments in 3 transactions for a total purchase price of € 53.6 million and an annual net rent of almost € 5 million.

 

The sellers were both a family and institutional investors. The largest single location is Duisburg with a share of about 43%. The economic transfer of the first transaction will be completed on 01.10.2016, two changes of benefit and burden are planned for the end of 2016.

 

With a vacancy rate of 7.3%, the properties certainly offer further optimization potential.

 

After only 6 months of active acquisition activity, the Asterion Group now has a total portfolio of 2,870 apartments, and the specialists at Velero are confident that this will continue: "We are currently experiencing a transaction market that is quite difficult for buyers, but we see our success in purchasing as confirmation. We have built up a considerable pipeline for the Asterion Group, which now needs to be worked on and brought to the target", says Thomas Lange, CEO of Velero.

 

During the contract negotiations Velero and Asterion were advised by the law firm Greenberg Traurig LLP in Berlin and SWAP (Steffen Wissmann Accounting Products), Cologne.

© 2020 Velero Immobilien AG