Futureal sells Kaiserslautern resi portfolio (DE)

Futureal sells Kaiserslautern resi portfolio (DE)

Futureal Group has sold its rental buildings portfolio in Kaiserslautern, Germany, to a professional real estate investment firm listed in Switzerland. The purchase price was not disclosed. Proceeds from the deal will be reinvested in the group’s portfolio of over 50 ongoing projects throughout Europe.

 

The six buildings sold as part of the transaction were originally constructed between 1926 and 1956, and the majority of the facades and over two-thirds of the apartments were renovated over the last few years. The buildings house 200 apartments and five retail units in the heart of the city, close to the train station and the University of Kaiserslautern. 95.5% of the apartments and all retail units are currently occupied.

 

Futureal Group, one of the leading real estate developers and investors in Central and Eastern Europe, is currently managing over 50 projects simultaneously, with a total value of around €1bn and a gross area of over 700,000m². The Group closed several major transactions over the last few months, including the sale of its Corvin Offices portfolio in Budapest, Hungary, to OTP Group. Futureal Group is intent on increasing its footprint in Western Europe and will be announcing new acquisitions in the near future.

Related News