Arsago Real Estate has sold a residential portfolio consisting of 16 multifamily buildings with approximately 170 apartments and a total area of approximately 11,350 sq m. The purchaser is a German insurance group, which will hold the portfolio long term. The structured transaction process was supported by Cushman & Wakefield.
Richard Tucker, Head of Investment Frankfurt, Cushman & Wakefield, "The Trinity portfolio impressed with its attractive lot size and its strategically favourable locations within the Rhine-Main region. The extremely positive economic development of the region will continue to contribute to a permanently attractive residential market, so that residential properties will be in long-term and sustainable demand."
Markus Elmer, Co-Head of Residential Advisory, Cushman & Wakefield, says: "The transaction underlines that residential real estate has proven a safe and resilient investment, particularly through the Covid pandemic and its repercussions. Demand for residential real estate remains strong and investor interest has increased significantly in recent months."
Going forward, Arsago Real Estate will continue asset management for the portfolio, aiming to build and expand it together with the investor and planning further acquisitions.
Cushman & Wakefield was exclusively commissioned by the seller with the marketing. The parties agreed not to disclose the purchase price.