Engel & Volkers sells German real estate portfolio for Israeli investor

Engel & Volkers sells German real estate portfolio for Israeli investor

Engel & Volkers Investment Consulting GmbH (EVIC) has sold the German portfolio of AFI Europe, a sub-company of Africa Israel Properties,  as part of an exclusive mandate. In the course of the three-year sale process which EVIC successfully completed at the beginning of July 2018, the company has disposed of 13 properties of different types of use with a GLA of 81.000m².

 

In the course of a portfolio sale, the company has also sold 18 residential properties in Berlin compromising 380 units and around 45.000m² of rental space. The purchase price for all properties is in the three-digit million range. 


Doron Klein, Managing Director of AFI Europe in Germany commented: “We have successfully sold our real estate portfolio in Germany. It was important to us to have a partner who is not only represented at the top locations but also has a large network at the B and C locations.“

 

Kai Wolfram, Managing Partner of Engel & Volkers Investment Consulting comments: “In principle, we cannot observe an increase in foreign investors selling their portfolios in Germany because they see the price peak on the investment market. Although international players, such as our client, sell some of their properties with high profits, foreign investors in Germany also buy them.“

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