Acquisition of two historic residential and commercial buildings in Erfurt and Weimar
On 26 November 2013, LIVIA Real Estate acquired two residential and commercial buildings on Schillerstrasse 32 in Erfurt and on Brahmsstrasse 12 in Weimar. Both properties are located in one of the most attractive urban residential districts of the two cities. The buildings were constructed around the turn of the century and completely renovated in 1996 and 1999. LIVIA Real Estate decided to invest in Thuringia as a new investment location due to the current positive development in this area. A large number of refurnished properties has contributed to an appreciation of the cityscape of the regional capital of Erfurt and the university town of Weimar. Average, good and prime locations have seen rents rising in line with increasing demand for housing space. In addition, prices for residential buildings remain moderate compared to German metropolises.
The properties comprise a leasable area of approximately 2.000 square meters, which in turn are divided into 13 accommodation units and four office spaces. Furthermore, there are ten parking spaces out back, which are used by the leasers.