(To read more on the multifamily market, click here.)

BERLIN-Colonia Real Estate AG of Cologne, Germany, is acquiring2,199 residential units, 150,700 sf of office space in the GreaterBerlin area for $95.15 million. The transaction is expected toclose before the end of the year.

The portfolio was acquired for a multiple of 10.9 times the netrental income of around $8.67 million (euro 6.61 million) per year.Colonia says in a prepared statement that in recent years theportfolio has been substantially redeveloped and renovated at acost of more than $97 million (euro 74 million). Vacancy in theportfolio is approximately 10%, according to Colonia.

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