11 Jan Nox Capital Group sells portfolio with 640 units to Covivio
Foto Credit: Covivio
The transaction volume amounts to 154 million euros
BERLIN, Jan. 10, 2022: Berlin-based investment company NOX CAPITAL recently sold a portfolio of 640 units to European real estate company Covivio.
640 residential units in attractive locations in Berlin
The properties sold are all in good locations in Berlin or in the city center – Charlottenburg-Wilmersdorf, Friedrichshain-Kreuzberg, Tempelhof-Schöneberg and Tegel. Direct access to public transport also makes them attractive.
Classic apartment buildings and modern residential complex with subsidized rents
The property portfolio consists predominantly of classic Berlin apartment buildings from the period between 1900 and 1930 as well as a modern residential complex with subsidized rents.
Transaction volume of 154 million euros
Nox Capital was thus able to profitably sell a viable portfolio of existing properties to Covivio for a transaction volume of EUR 154 million. The buyer’s goal is to efficiently increase its residential offering in Berlin.
Christopher P. Koch, Managing Director at Nox Capital Group: “We are delighted with the successful sale. With our existing properties in attractive Berlin locations, Covivio has acquired a portfolio that offers good prospects for all stakeholders. We wish Covivio all the best in the future.”
Berlin-based Nox Capital Group is an internationally active residential real estate specialist that also advises the NOX CORE RE FUND and the UP2 NOX GERMAN RE FUND. In addition to institutional fund management, the company covers the complete asset management chain and offers its clients excellent market access and state-of-the-art portfolio optimization. NOX CAPITAL has already executed more than 2,000 transactions across all asset classes in Germany, and its own portfolio exceeds 1.4 billion euros. More information: www.noxcapital.de