Group entities of GAGFAH S.A. and GSW Immobilien AG have agreed in an exclusivity agreement on the major terms for a sale of a residential real estate portfolio of about 4,800 apartments by means of a share deal to GSW Immobilien AG.
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Berlin.
The parties value such portfolio, which is primarily located in good areas of Berlin, at about 330 million.
The purchase price sellers will receive on such basis after deduction of liabilities connected with the portfolio is expected to be in the magnitude of about 65 million. The parties expect that binding agreements will be concluded on short notice and can be consummated already during this year after antitrust approval.
Source: GAGFAH S.A.
The purchase price sellers will receive on such basis after deduction of liabilities connected with the portfolio is expected to be in the magnitude of about 65 million. The parties expect that binding agreements will be concluded on short notice and can be consummated already during this year after antitrust approval.
Source: GAGFAH S.A.
