A community of heirs has sold their rental-income generating property in Hamburg-Uhlenhorst. The buyer, a professional real estate investor, bought the property for 26.9 times the amount of the net annual rent.
Grossmann & Berger, a member of German Property Partners
(GPP), brokered the transaction.
The apartment and business building dates back to the 1950s and is near Hofweg.
The building stands on some 1,227 m² of land and the 20 apartments and four commercial units occupy a total of 1,398 m² of residential and usable space.