Part of the housing stock in Lower Saxony was acquired by a publicly-listed company in 2016 as part of a portfolio transaction. The holdings had vacancy rates of between 20% and 35% per location when purchased. In 2018, other properties could be acquired in addition. In total, there are now about 700 flats at the locations Oldenburg, Cuxhaven, Goslar, and Nordenham with a stock floor space of approximately 41,000 m² and a total land area of around 108,000 m².
In addition to the reduction in vacancies, the current tasks are primarily in the valorisation of the structural facilities, the development of individual quarters, and the conclusion of urban development contracts. To that end, we are working closely with local authorities and stakeholders. The aim is the revitalisation of the properties and the creation of habitable living quarters.