IMW Immobilien: Five properties sold for €17.2mn
CIF 1 Asset GmbH & Co. KG and CIF 2 Asset GmbH & Co. KG, two subsidiaries of Berlin-based IMW Immobilien AG, have sold five properties in Hamburg and Hanover for approximately €17.2mn. They comprise 27 office and 26 residential units with a total area of 12,000 sqm, of which some 9,230 sqm are commercial. The buyers are the Augsburg firms PATRoffice Real Estate 610 GmbH and PATRoffice Real Estate 998 GmbH. The sold properties were in the “Falcon Crest” portfolio which IMW AG acquired in 2006. The firm reported that over 90% of the floor space is rented long-term. IMW announced that with the sale of these mainly commercial properties, it is maintaining it focus on the residential segment.