Eurohypo AG has structured the deal for the sale of Prima Wohnbauten Privatisierungs-Management GmbH in Berlin. As part of the transaction, IMW Immobilien AG, Berlin, acquired approximately 94% of the shares in PRIMA. The remaining 6% went to Vermar Verwaltungs- und Marktstudien AG, Zurich. The financing was structured by the Eurohypo branch in Berlin. The parties involved have agreed to observe secrecy over the purchase price.
The PRIMA GmbH portfolio comprises 27 properties with a total of 4,458 flats and around 280,000 m² of living area. The units are located mainly in the Lichtenberg district of Berlin. According to information received from IMW, rental income amounts to 17 million p.a. Over the past 8 years, the portfolio has been realigned and rejuvenated.
IMW has announced its intention to acquire other portfolios in German and place these as German REITs once the relevant legal framework conditions have been fulfilled. The announcement highlights the importance of REITs in the German real estate market.
Once again, Eurohypo has proved its leadership when it comes to structuring big real estate deals in its home market of Germany. Using a variety of innovative products, Eurohypo tailors the financing structure of each deal to the specific requirements of clients.
Source: Eurohypo
