TD News International

Peach acquires another housing package in North Rhine-Westphalia

Peach Property has purchased a portfolio of 1,109 apartments in the greater Bielefeld area. The units are spread over seven locations, mostly in North Rhine-Westphalia. 30 units are in Lower Saxony. The majority of the buildings date from the 1960s and 70s; Peach states that there is no maintenance backlog. The package generates €3.8mn in annual rent income. This is the fourth portfolio in the region that Peach has acquired this year. The deal boosts the company’s holdings by 23 % to 5,979 units with more than 390,000 sqm lettable living space, target rent income increases by about 19 % to CHF30mn per year.

TD Premium

Subscribers to our premium service have access to this article in full as well as to an additional 450,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.

 

TD Premium is Germany's leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.