X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FRANKFURT-DePfa, the German mortgage bank, has put 22 properties up for sale through Jones Lang LaSalle. The disposals are part of the preparations for a planned demerger which will see DePfa split into two separate listed banks in 2002.

The portfolio comprises 22 properties across Germany–19 offices, two residential and a hotel– totalling 3 million sf with an annual rent roll of €38 million ($34.5 million). The brokers are looking for bids for the portfolio as a whole or for any of five sub-portfolios each, with different investment characteristics.

The 19 office properties are all located in major cities and provide a range of investment returns. The hotel, located in the Rhein-Main area, is one of Germany’s most historic and has recently been restored and modernised. The residential portfolio comprises two extensive residential complexes in Freiburg and Munich, offering a total of 785 residential units.

David Seddon, of Jones Lang LaSalle’s European Capital Markets team, said: ‘Portfolios of this size and quality very seldom become available in Germany, and in this instance are being offered in a formal tender process. We expect to generate serious interest from both German and international investors.’

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.