Velero buys 2,700 LEG apartments in North Rhine-Westphalia

24/06/2019

Velero Group has acquired a total of 2,700 residential units with about 208,000 sqm on behalf of unnamed buyers. The sellers are subsidiaries of LEG Immobilien. The properties are located in Dortmund, Duisburg, Remscheid, Wuppertal, and Dorsten. The buyers are planning to develop the existing properties, improve their technical condition and thereby reduce the vacancy rate. To that end they are planning on larger investments for refurbishing existing and vacant apartments. The buyers were advised by the law firm of Greenberg Traurig Germany, LLP, received tax support by SWAP Steffen Wissmann Accounting Performance, and technical support from Aspera technics GmbH.


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