Dresden: Fortress invests €70mn in restoration
This year, Fortress Deutschland GmbH wants to invest €70mn in the municipal area residential portfolios it acquired last year. Since the purchase of the municipal residential construction company Woba, vacancy has decreased from 16 to 12%, said Fortress Deutschland boss Matthias Moser to the Sächsischen Zeitung (a daily newspaper for the German free state of Sachsen). Criticism comes from a fraction of the renters: Rent was raised for around 3,400 residences from the comprehensive portfolio of 48,000 residences.