Grossmann & Berger, a member of German Property Partners
(GPP), has assisted a community of heirs who wished to sell a complex of buildings in Borgfelde. The property consists of an apartment block and a commercial centre.
An asset management firm from Hamburg paid 16.5 times the annual net rental income (excluding service charges) for the complex. It was agreed not to disclose the exact purchase price.
The complex, located between Bürgerweide and Borgfelder Strasse, comprises nine residential and ten commercial units. The total floor area consists of some 1,860 m² of usable commercial space and living space of some 600 m².