German listed Estavis buys Berlin housing at 11 times rental

05 May 2013, 11:07 PM

Fast-growing German listed housing company Estavis has acquired 3,200 apartments in Berlin Hohenschonhausen for a price of €110m, selling on 2,000 with refurbishment needs to two institutions. The proceeds bring the cost on the retained segment down to 11 times rental.

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