The FBK Group, a real estate developer and investor based in Nuremberg, has acquired a residential portfolio in Amberg from an institutional investor. The portfolio comprises 200 residential units with a total rental area of approximately 14,000 square meters.
The 31 buildings, dating back to the 1960s, are located in neighborhoods directly east and south of Amberg’s historic city center. At the time of sale, the vacancy rate was around 10 percent. The specific characteristics of the properties allow for efficient energy-efficient refurbishment. This, combined with the regionally atypical vacancy rate, offers excellent value creation potential.
“With this acquisition, we are continuing our expansion course and extending our portfolio in a region with strong growth potential,” says Timo Kraft, co-founder of FBK along with Alexander Faust and Christoph Bauer. “We invest in selected residential properties and position them in a sustainable and future-proof way. Our develop-to-core strategy has already proven successful in our projects in Erlangen and Coburg – we are about to start marketing the individual units there.”
The FBK Group invests in residential and commercial properties in need of refurbishment and capital investment, preferably in Bavaria. Currently, 40 residential units in Erlangen, located in close proximity to the university, and 115 units in the city of Coburg are being prepared for individual sale.
BNP Paribas Real Estate GmbH acted as intermediary in the transaction. FBK Group was advised on tax and legal matters by SONNTAG.
Advisors from SONNTAG: Philip G. Wiljan (lead), Daniel Michl, Jana Leutloff
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