GIEAG Immobilien AG has announced the sale of a portfolio of existing properties comprising 55 semi-detached houses in Erbendorf in the Oberpfalz district of Bavaria. The 55 semi-detached houses with a solid wall construction and a total dwelling area of approx. 8,000 square metres were erected in 2008 by the City of Erbendorf on a plot of land covering approx. 19,600 square metres and purchased by GIEAG from the City of Erbendorf in 2011. The residential portfolio is as good as new and in a well-kept condition; at present - following a recent extension on the lease - it is rented in full to Germany's Institute for Federal Real Estate. The end users of the residential properties are members of the US armed forces. The sale to a group of private investors was completed in the framework of an asset deal in a structured transaction process which was accompanied on the seller side by BGA Invest GmbH, Grünwald near Munich. Legal and tax consulting was provided by SATELL Rechtsanwälte Steuerberater, Munich.