The KGAL Wohnen Core 2 fund, managed by KGAL GmbH & Co. KG, has sold a residential complex with 254 rental units in Bruhl near Cologne, to Domicil Real Estate AG. Following its acquisition of the complex, KGAL, as an active asset manager, renovated the energy efficiency of the complex and, among other things, upgraded the lifts. The purchase price was not disclosed.
As a result of the renovations an attractive market price was achieved on behalf of the fund’s investors. The property comprises a total of 19,826m² of rental space on Kolpingplatz, northwest of Bruhl's city centre. The space is divided into 249 residential and five commercial units as well as 138 underground car parking spaces. The property dates back to 1974 and underwent energy refurbishment in 2012 and 2014.