24.03.2014

Kronberg International sells stakes in three real estate portfolios in Germany

  • Investment and asset manager sells shares in Eagle Real Estate
  • Portfolios comprise 1,906 residential and commercial units
  • Disinvestment takes place against the background of early unrealized gains

Berlin, 27th of November 2013. The Kronberg International SA, Luxembourg has sold its majority stake in the company SIG RE B. V., Amsterdam. The company owns three residential and commercial portfolios in Germany. Purchaser of the shares, the listed real estate companies Adler Real Estate AG in Hamburg. The further shares remain with the Prelios Netherlands, Amsterdam. Kronberg had acquired the stake earlier this year. The sale of the three property portfolio took place by way of a share deal. Kronberg was advised by the international law firm OLSWANG.

The real estate portfolios, which are divided into three regionally structured German property companies, include 1,769 residential and 137 commercial units and are located in North Rhine -Westphalia (NRW), Saxony and North Germany. The total value of the three portfolios is around 113 million Euros. The properties are distributed in NRW on sites such as Dusseldorf, Cologne and other cities in the Ruhr area, in Saxony, among others, to sites in Dresden, Leipzig and Chemnitz, as well as in North Germany on the locations Lübeck, Kiel and Rostock. Kronberg CEO Martin Hellweger: “A continued high demand for residential properties has enabled us to premature disinvestment. Earlier than expected, we were able to achieve our targeted increases in value. ”

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 reducing to around 3,000 units . “Strategy of Kronberg is still to expand our real estate portfolio through targeted acquisitions with a medium to long-term investment horizon,” explains Dr. Martin Hellweger, owner and CEO, the investment strategy of Kronberg.

Press contact:

RE Kronberg Germany GmbH

C / o RUECKERCONSULT GmbH Nikolaus von Raggamby

Wallstraße 16, D – 10179 Berlin

Tel: +49 (0) 30 2844987-40

E -mail: vonraggamby [at] rueckerconsult [dot] de

 

RE Kronberg Germany GmbH

Martin Hellweger

Ziegelstraße 24, D -10117 Berlin

Phone: +49 (0) 30 20 61 635-0

E -mail : info [at] kronberg-international [dot] com

www.kronberg -international.com

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