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Berlin Apartments Sell for €67M

BERLIN-Conwert Immobilien acquired the 1,016 units from from Germany's Colonia Real Estate.

By Allan Saunderson | Updated on September 17, 2009

Allan Saunderson is managing editor of Property Finance Europe and a contributor to GlobeSt.com.

BERLIN-Vienna-quoted conwert Immobilien has bought three property companies from Germany’s Colonia Real Estate comprising 1,016 Berlin apartments for €67 million. Kronberg International also took part in the transaction, purchasing a minority share of 5.1% . CRE said the purchase price was above book value, at an entry yield of over 7%.

CRE is Germany’s third largest listed residential property company and the portfolio it is divesting comprises 937 residential and 79 commercial units, built in 1900-1920s. The consortium will also take over existing financing of the real estate portfolio totaling €50 million. The closing should be finalized by the end of September.

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CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

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Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

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CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Assessment

Sponsored by Cherre

Enabling Stakeholder Confidence in Your Data: A Self-Assessment for Real Estate Organizations

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

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