Grossmann & Berger, a member of German Property Partners (GPP) has acted for parties in the sale of two rental apartment buildings in Hamburg.
Hamburg-based property services provider G & B brokered the sale of a multi-family house in Harburg that was built in 1982. Located in the Phoenix quarter of the district, the property has 12 dwelling units and total living space of some 900 m². This deal between private investors saw the building change hands at a price 23.6 times higher than the annual rent.
In Hamburg-Marienthal, between Gustav-Adolf-Strasse and Schimmelmannstrasse, a multi-family unit was sold with professional support from Grossmann & Berger. A community of heirs sold the red brick house, which offers 500 m² of leasable space and stands on 1,085 m² of land. Built in the 1930s, the house has 8 dwelling units and its sale was brokered to private investors for 25.1 times the annual rental income.