A transaction has completed in the institutional residential market in North Rhine-Westphalia. Wertgrund Immobilien AG has sold a residential complex in Bergisch Gladbach near Cologne to Domicil Real Estate AG. The transfer of ownership of the property marks a planned reallocation within the housing stock of the Cologne commuter belt.
Structuring by Newmark Capital Markets
The transaction was advised by the Newmark Capital Markets Living Team. Newmark's consultants supported Wertgrund Immobilien AG throughout the entire sale process of the residential complex and brought negotiations with the buyer, Domicil Real Estate AG, to a successful conclusion.
On the vendor side, Wertgrund Immobilien AG is parting with the property in the Rhineland through this disposal. On the buyer side, Domicil Real Estate AG expands its portfolio through the acquisition of the residential complex and assumes future management as well as operational responsibility for the asset.
Focus on the Bergisch Gladbach location
The city of Bergisch Gladbach is situated in the immediate vicinity of the metropolis of Cologne. Existing residential complexes in Bergisch Gladbach represent a sought-after asset class for housing companies, as they provide living space in the direct catchment area of one of Germany's largest economic centres.
- —Vendor: Wertgrund Immobilien AG
- —Buyer: Domicil Real Estate AG
- —Advisory firm: Newmark Capital Markets Living Team
- —Property and location: Residential complex in Bergisch Gladbach near Cologne
The transaction demonstrates continued interest in existing residential complexes in the Cologne area. Through the intermediation of the Newmark Capital Markets Living Team, the transfer of ownership between Wertgrund Immobilien AG and Domicil Real Estate AG in Bergisch Gladbach was implemented in an orderly manner.
