Austria’s S Immo sells German apartment portfolio
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.
Tags : INTERNATIONAL