The IBUS Company recently purchased a German residential portfolio, consisting of 1,354 apartments in Salzgitter, Braunschweig and Köln, Germany. The apartments, which were constructed in the 1950's and 1960's, have been purchased from a private owner. The majority of the portfolio will be held as a longer term investment.
Prior to this transaction, IBUS had already purchased a portfolio in Lüneburg, Lower Saxony (beginning of 2005) and a portfolio with apartments in Duisburg, Krefeld, Mülheim and Remscheid (beginning of 2006). This recent purchase has increased the investment in Germany to approximately 4,000 apartments.
Source: The IBUS Company