This year, the sale of a housing estate in Hanau with approx. 630 flats will be one of the last transactions of DEGEN Unternehmensberatung, Cologne. With this step, it has parted company with the residential portfolio that was badly in need of modernisation. An acquisition company of the Luxembourg REIP Holding S.à.r.l. will be undertaking a complete and extensive refurbishment of the whole of the 32,000 square metre residential complex next year. After optimisation, the buildings, partly under a preservation order/ensemble protection order, are to be retained in their own stocks and vacancies eliminated. The Luxemburg enterprise has planned a volume of more than 20 million
euros for the whole project. With this transaction, apartments have been acquired for the first time in the region around Frankfurt a.M.. DEGEN Unternehmensberatung, Cologne, together with Engel & Völkers Commercial, Frankfurt a.M., were involved in this transaction as consultants and estate agents.

Legal advisory service for the buyer was rendered by the notaries‘ office of Taylor Wessing,
Berlin. The REIP Holding S.à.r.l. has already acquired more than 1,700 flats in North Rhine-
Westphalia through its subsidiaries this year and would like to continue expanding its stocks in these two regions within the next two years. The handling office, REIP GmbH, with its registered office in Bochum, will - as previously - accompany and process future transactions from a technical point of view. Managing Director Peter Bollmann will be administering the portfolios together with his own residential stocks, currently amounting to over 700 flats. DEGEN Unternehmensberatung Cologne, accompanying the REIP Holding S.à.r.l in its transactions in an advisory capacity, is currently inspecting further housing estates with a view to possible acquisition.