KWG Kommunale Wohnen AG has purchased 173 residential units in Celle from Städtische Wohnungsbau GmbH, a subsidiary of the city of Celle.
The purchase price for the properties is approx. 522 euros per square meter. With this transaction KWG is enlarging its current regional portfolio of 406 units in the economically sound region of South Eastern Lower Saxony, including Braunschweig and Wolfsburg.
Stavros Efremidis, Member of the Board of KWG Kommunale Wohnen AG: "The fact that the municipal company sold to KWG is endorsement that we - as a German investor with a longterm strategy - are an accepted partner for communities."
The entire KWG group portfolio now amounts to about 3,800 units. By the end of 2008, the number of residential units should increase to about 8,000 according to the company's strategy.
The purchase price for the properties is approx. 522 euros per square meter. With this transaction KWG is enlarging its current regional portfolio of 406 units in the economically sound region of South Eastern Lower Saxony, including Braunschweig and Wolfsburg.
Stavros Efremidis, Member of the Board of KWG Kommunale Wohnen AG: "The fact that the municipal company sold to KWG is endorsement that we - as a German investor with a longterm strategy - are an accepted partner for communities."
The entire KWG group portfolio now amounts to about 3,800 units. By the end of 2008, the number of residential units should increase to about 8,000 according to the company's strategy.
