Investment and asset manager AEW has acquired a residential portfolio in Frankfurt am Main for a German core mandate. The portfolio consists of seven new buildings with a total of 18,400 square metres of living space spread over 255 units in Nordend, Niederrad and Eschersheim.
The seller is the Praemia REIM Group. Six of the seven properties are almost fully let, while one is under construction and currently undergoing completion. The portfolio also includes commercial and retail space with a mix of restaurants, retail and educational facilities.
AEW was advised on environmental aspects by Ambiente Deutschland GmbH.
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