Peach Property continues to buy
Peach Property Group AG is acquiring a real estate company and thus further expanding its portfolio. With this acquisition, Peach is expanding its portfolio by around 30 buildings with 397 residential units and 36 commercial units in the city of Düsseldorf and the surrounding area.
The parties have agreed not to disclose the purchase price. The transaction is expected to be completed by April 2016 at the latest.
The takeover increases the number of apartments in Peach Property Group's portfolio to over 1,900 units. The rentable living space will increase by almost 24,000 to a total of almost 130,000 sqm. Peach's annual target rent will increase by around CHF 2.6 million as a result of the purchase. The company intends to increase the current occupancy rate of 86 percent in the near future through asset management and targeted investments. (ah)
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