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Propfund has acquired its third portfolio for its Propfund 1- Income Generating Fund. This brings the total number of units acquired for this fund to 140, generating a rental income of €672,000 pa !

“We are very happy with the acquisitions we have made in recent months” explains Marco Knoblauch, Fund Manager. “This latest acquisition in Cottbus, further enhances the income capabilities of this fund and helps us to deliver strong annual cash surpluses for shareholders in excess of our initial forecasts”. The Cottbus portfolio consists of 48 apartments in 4 separate residential blocks. The 4 blocks are 100% rented generating an annual rental income of €240,000. “The strategy for this fund is to acquire high yeilding residential portfolio’s. This portfolio is an ideal acquisition as all 48 units were purchased for €2,600,000 producing a current rental yield of 9.2%” says Marco Knoblauch. “The addition of this portfolio brings the current rental yield of this fund to 9.99% generating a strong income for all investors in the fund”