Austria's S Immo sells a third of German apartment portfolio

August 13, 2016 2:32 PM

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BERLIN Aug 13 Austrian real estate company S Immo AG has sold about a third of its German residential portfolio to capital investment firm Deutsche Investment, it said.

The sale of about 1,500 residential units in Berlin and Hamburg will earn Vienna-based S Immo AG a net inflow of about 140 million euros ($156.32 million) in coming months when the deal is expected to close, the company said in a statement published late on Friday.

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