Berlin, 29 June 2016. Capital Bay GmbH (Capital Bay) has acquired a listed social property in Dresden for a purchase price of 4.6 million Euro, which was sold by a family office.
The fully-let property is under monument protection and comprises a total area of approx 2,600 sqm. Due to its location in the center of Dresden-Friedrichstadt the property is surrounded by numerous historical buildings, including the Palais Brühl-Marcolini – the Friedrichstadt Hospital – and the Neptune Fountain. The train station Dresden-Mitte provides excellent links to the regional transport network.
Capital Bay detected numerous opportunities in increasing values by the acquisition. “Among others, the outstanding location within the district as well as the property’s conspicuous condition are the main drivers in value”, mentioned George Salden, CEO of Capital Bay.