Grand City buys 5,000 apartments in North-Rhine Westphalia
Grand City has secured several residential portfolios with a total of around 5,000 units in North-Rhine Westphalia. The transaction is reported to be worth €170mn, net rents come to €15mn, and vacancies are listed at 15 %. The properties are to change ownership in January. This increases the corporate portfolio to 76,000 units with €405mn annual rent income.
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