GAGFAH S.A. to sell real estate portfolio in Berlin (DE)

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.



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.

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