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Austria’s S Immo sells German apartment portfolio

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Austrian real estate company SImmo AG has sold a third of its German residential portfolio to capital investment firm Deutsche Investment. The sale of 1,500 residential units in Berlin and Hamburg will earn Vienna-based S Immo AG a net inflow of about 140 million euros, the company said in a statement.The deal will significantly enhance S Immo’s balance sheet and increase its equity.

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