Mannheim, 18 January 2021 – With the acquisition of two residential properties in the towns of Borna and Brandis, the Alpha Real Estate Group, a Germany-wide asset and investment manager, is tapping into the Saxony property market for the first time. The locations are based in the direct catchment area of the city of Leipzig.
Just before the end of last year, the company, which is specialised in the privatisation of residential portfolios, acquired a total of 211 one- to four-room apartments with a total living space of approx. 13,300 square metres, together with 211 associated parking spaces. The residential units have an average living space of just under 60 square metres and are spread over a total of 28 buildings which were built in the mid-nineties. It has been agreed not to disclose the purchase price of the entire portfolio which is almost fully let.
“With this acquisition, we have invested in Saxony for the first time and are expanding our portfolio within the scope of our growth strategy. Leipzig is one of Germany’s most fashionable cities and so the entire region has enormous enhancement potential,” says Peter Buhrmann, CEO of the Alpha Real Estate Group.
The Frankfurt office of the law firm, Clifford Chance LLP, provided legal support on the purchasing side. The deal was brokered by BGA Invest from Grünwald in the district of Munich.
About the Alpha Real Estate Group
The Alpha Real Estate Group is a Germany-wide asset and investment manager specialising in the residential sector. Its focus of activity is on the privatisation of residential portfolios. Its offerings enable the Alpha Real Estate Group to realise the full potential of private and professional investors as well as leasers and owner-occupiers. A comprehensive range of services in the property management sector completes the portfolio of this fast-growing real estate company.