Berlin. The Kronberg International SA , Luxembourg, has acquired 52.8 percent of the shares in SIG RE BV , Amsterdam, which has three residential and commercial portfolios in Germany. The market value of the three real estate portfolio amounts to approximately 115.5 million Euros. Sellers of the shares are Family Offices in Italy. Co-owner with 47.2 percent share is Prelios Netherlands , Amsterdam . The real estate portfolios, which are divided into three regionally structured German property companies, include 1,791 residential and 140 commercial units and are located in North Rhine -Westphalia (NRW), Saxony and North Germany. The total of 148 properties are distributed in NRW on locations such as Dusseldorf , Cologne and other cities in the Ruhr area , in Saxony , further sites in Dresden , Leipzig and Chemnitz , as well as in North Germany on the locations Lubeck, Kiel and Rostock. The current occupancy rate by rental space ranges from 85 percent by NRW – portfolios, more than 92 percent in Saxony- portfolio and the real estate portfolio in North Germany around 95 percent. The clear aim of the two partners was according to Kronberg CEO Martin Hellweger, by reducing vacancies and targeted investments in modernization to improve their management companies in Germany, Kronberg RE Germany GmbH and Prelios Germany GmbH rental income in real estate holdings and thus the value of the portfolios to increase. “This includes the sale of objects in non- strategic locations as well as the reduction of maintenance and repair backlog of a medium-to long-term investment horizon,” said Andreas Engelhardt , Managing Director of Prelios Germany GmbH, the portfolio strategy. The current residential real estate portfolio of Kronberg, which are held either alone or in joint ventures with both domestic and international investment partners, thus increases to around 6,000 units. “Strategy of Kronberg is to expand the stock through further acquisitions in the medium to long-term investment horizon,” explains Dr. Martin Hellweger, owner and CEO of Kronberg. Recently Kronberg has also acquired together with the German Agricultural and hunting Immobilien GmbH , a residential and commercial portfolio with 37 properties and 1,202 residential units in Saxony with a focus in Dresden.