11 July 2016. The IMMOVATION Group has sold a residential portfolio of 577 units with a total area of nearly 38,300 sqm in Heidenheim an der Brenz (Baden-Württemberg) to Capital Bay GmbH (Berlin). The purchase is the largest residential transaction for Capital Bay so far. The company was just founded in late March 2016. The purchase was consulted by Engels & Völkers Investment Consulting GmbH.
Aside from the 577 residential units, two commercial units are also included in the Heidenheim real estate portfolio. Nearly 40% of the residential units (230) have been renovated by the IMMOVATION Group in recent years. In addition, windows, roofs, staircases and exterior facilities were refurbished by the end of 2014. The façades of the building, which were constructed between 1959 and 1962, have been refurbished as well.