The Cologne-based Corpus property group is buying 1,300 flats in Darmstadt and the surrounding area which are property of the post office holding company Deutsche Post Wohnbau Daheim GmbH, a subsidiary of Deutsche Post AG.
Both companies declined to give any purchase price details although a Darmstadt construction company and the Hegemag company failed in their offer of more than DM 210m.
The purchase is part of an agreed takeover package between Corpus and Deutsche Post group. The flats are intended to serve as the basis for further activities of the property group in the residential and commercial property market in the Rhine-Main area.
Frankfurter Allgemeine Zeitung, 11 December 1998, page 51
