Osborne Clarke has advised real estate investment company Domicil Real Estate on the sale of two residential properties in Thuringia. The sale of the total of 180 residential and 14 commercial units with an overall area of around 12,935 square metres in Erfurt and Gotha took the form of an asset deal.
“The properties in Erfurt and Gotha were part of the nationwide NOW portfolio, which we acquired in 2021. The central location and infrastructure of the two cities continue to be very good investment reasons. The new owners are also convinced of this,” comments Andre Schmöller, Chief Investment Officer of Domicil Real Estate AG. “Erfurt and Gotha are cities that benefit from their location and hold a lot of potential. It is therefore now a good time for Domicil to sell the residential portfolio and continue to drive strategic growth.”
The core business of the Munich-based company is the purchase and sale of residential properties throughout Germany. The focus is on the acquisition of medium-sized to large residential portfolios and the prompt resale to tenants, owner-occupiers and capital investors. This can include individual flats as well as entire properties or portfolios. Domicil Real Estate AG additionally serves institutional clients across all stages of the real estate value chain - from acquisition through portfolio and asset management to subsequent exit.
The Osborne Clarke team advising Domicil Real Estate AG consisted of Heiko Petzold (Partner) and Maria Bibik (both real estate law).