KWG Kommunale Wohnen AG has successfully concluded the acquisition of Siedlungs- und Wohnhausgesellschaft Sachsen GmbH (SWG). This means that the acquisition of 569 residential units with a total of 30,700 sqm has now also been formally completed. The above units are being sold by Landessiedlungsgesellschaft Sachsen GmbH i.L. which is owned by the Free State of Sachsen, other shares were taken over by the district Chemnitzer Land and the city of Glauchau.
KWG Kommunale Wohnen AG is taking over the residential units for around EUR 485 per sqm and an initial net yield on the portfolio of approximately 9 percent. As around 140 units are presently not let due to renovation work now being prepared, there is still more rental potential. The remaining portfolio is already in good condition and has an occupancy rate of about 95 percent. The units are located in Chemnitz and the surrounding area which is a region boasting excellent infrastructure, low unemployment and high growth potential.
KWG Kommunale Wohnen AG is taking over the residential units for around EUR 485 per sqm and an initial net yield on the portfolio of approximately 9 percent. As around 140 units are presently not let due to renovation work now being prepared, there is still more rental potential. The remaining portfolio is already in good condition and has an occupancy rate of about 95 percent. The units are located in Chemnitz and the surrounding area which is a region boasting excellent infrastructure, low unemployment and high growth potential.
