Newmark brokers housing deal in Germany

Commercial real estate firm Newmark has brokered the sale of a publicly supported residential project in Cologne, North Rhine-Westphalia, for over €20 mln. 

Kalk Living

A Cologne-based family office sold the property to Norddeutsche Bauträger.
The residential complex, built in the early 2000s, consists of multiple buildings offering long-term rent-controlled apartments. 
This transaction strengthens Newmark's position in the expanding affordable housing market. This specific submarket is seeing increased demand from both institutional and private investors, including family offices, due to the ongoing housing shortage and the expectation of consistent returns. This high investor interest is leading to a notable rise in transaction volumes.
Marcus Lütgering, country head Germany at Newmark, said: “We are proud of the successful development of our Residential business. With our teams operating throughout Germany, we have established a strong presence in a short time. This transaction exemplifies our successful market entry and the high level of expertise of our colleagues.” 
André Berger, senior managing director and co-head of Living Capital Markets Germany at Newmark, commented: "This transaction demonstrates that the market for residential investments, including in the segment of subsidized existing housing, continues to exhibit high liquidity." 
Tobias Köhler, senior managing director and co-head of Living Capital Markets Germany at Newmark, added: "We are observing a noticeable upswing in transaction activity, driven by increasing engagement from German institutional and mid-sized investors. North Rhine-Westphalia, and in particular the Cologne-Düsseldorf metropolitan region and the Ruhr area, plays a key role in our further expansion."
Newmark manages a wide range of mandates within the Living Capital Markets sector across Germany. These mandates encompass various residential assets, including existing housing complexes, properties located in Germany's seven largest cities, extensive portfolios, and new project developments.