Cologne-based Colonia has announced the completion of the disposal of 937 residential and 79 commercial units in Berlin for EUR 67 mln. The properties owned by three Colonia subsidiaries were acquired by a consortium consisting of Conwert Immobilien Invest SE and Kronberg RE.
Cologne-based Colonia has announced the completion of the disposal of 937 residential and 79 commercial units in Berlin for EUR 67 mln. The properties owned by three Colonia subsidiaries were acquired by a consortium consisting of Conwert Immobilien Invest SE and Kronberg RE.
The residential portfolio comprises renovated and partially renovated flats in the German capital that were constructed mainly in the first decades of the 20th century. The investment volume was above the book value.
