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Lincoln Equities Germany
LEG’s Berlin Holdings - Snapshot
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Currently own (in
partnership) and manage 5,300 units in 80 buildings in
the Greater Berlin Market worth an estimated $400
million
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Completed eight
acquisitions and seven financings since 2005
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Sold a 250-unit portfolio
in 2007 returning a 48.00 percent IRR to investors
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Properties have average
97 percent occupancy and rents are increasing quarter
over quarter
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Anticipate mid-teens IRRs
over medium-term holding periods on investments that
have very low downside risk
Current Portfolio
Fehrblinner Platz
Wilmersdorf, Berlin
Acquired July 2005
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Fehrbelliner Platz, aka Hohenzollerndamm
181-182, Brandenburgische Strasse 12-14, Sachsische
Strasse 32-33 and 35-37, was built in 1936. The
property includes 115 residential units, four
commercial units and 32 underground parking spaces.
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Total lettable area of 9,274 square meters (8,970 square
meters residential; 304 square meters commercial).
Osloerstrasse
Wedding, Berlin
Acquired February 2007
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Osloerstrasse 94-98a is comprised of 60 residential
units in six buildings. The residential buildings were
originally constructed in 1928.
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Total lettable area of 4,343 square meters (all
residential).
Rothenburgstrasse
Steglitz, Berlin
Acquired November 2007
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Rothenburgstrasse 38-38a is comprised of 20 residential
units, four office spaces and one retail unit that
houses Lidl, one of Germany's largest supermarket
chains.
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Total lettable area of 3,797 square meters (1,347 square
meters residential; 2,450 square meters commercial).
Zweiwinkelweg,
Spandau, Berlin
Acquired April 2006
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The Zweiwinkelweg Portfolio is comprised of three
buildings with 268 residential units and four commercial
units. A building pad on the site is approved for the
development of a supermarket.
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Total size of 17,072 square meters (16,356 square meters
residential; 716 square meters commercial).
BKG Portfolio
Wilmersdorf, Berlin
Acquired April 2006
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The BKG Portfolio is comprised of nine buildings with
176 residential units and 42 commercial units.
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Total lettable area of 19,771 square meters (14,637
square meters residential; 5,134 square meters
commercial).
JP Residential
Portfolio
Various Berlin markets
Acquired April 2008
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The JP Portfolio (aka Felicity Portfolio) consists of 69
mixed-use residential buildings with 4,652 units. The
largest concentrations are located in the Berlin
submarkets of Prenzlaurberg, Freidrichshain,
Charlottenburg, Wilmersdorf, Steiglitz and Lichtenburg.
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The portfolio contains 280,824 rentable square meters of
residential space and 21,353 rentable square meters of
commercial space.
Dispositions
Dernburgstrasse
Charlottenburg, Berlin
Acquired August 2005 and sold August
2007
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Dernburgstrasse 19-33 was built in 1955 and contains 237
residential units. The buildings were divided into a
condominium ownership structure in 1998. LEG purchased
199 residential units, one commercial unit, 40 parking
spaces and 17 garages.
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Total lettable area of 10,817 square meters (all
residential).
Berlinerstrasse
Wilmersdorf, Berlin
Acquired February 2006 and sold August
2007
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Berlinerstrasse 22-23 was built in 1915. There are 36
residential units and four commercial units.
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Total lettable area of 2,857 square meters (2,526 square
meters residential; 332 square meters commercial).
Cunostrasse
Grunewald, Berlin
Acquired February 2006 and sold August
2007
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The properties at Cunostrasse 59/59a are comprised of 17
residential units, three commercial units and an
underground parking garage. The residential building was
originally constructed in 1939 and completely
reconstructed in 1950. The commercial units were
constructed in the year 1954.
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Total size of 2,005 square meters (1,598 square meters
residential; 407 square meters commercial).
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