The city has bought back 1,300 apartments since the GBW sale to protect tenants – for many millions and at an additional cost. The example of a demolished block of flats shows how the investor cashes in.
From
Sebastian Krass and Klaus Ott
This is, you have to say, a junk property. Even if that is expressed somewhat more elegantly in the relevant proposal for the city council. It states that the property dates from 1950 and is “in dire need of renovation”. Elsewhere there is talk of an “old stock ready for demolition”. What is meant is the Nimmerfallstraße 60 to 76 in Pasing; a gated community that once belonged to the Free State and then passed into private ownership. Before the city of Munich finally reversed the privatization for a lot of money.