Deutsche Investment KVG has acquired residential properties in Berlin in a combined investment volume of c. €12.5m. The two properties divide into 60 residential and 6 commercial units. The acquisitions were transacted on behalf of a single mandate for an institutional investor account that Deutsche Investment manages in association with EB GROUP. The properties were sold by a German investment entity, the transfer of benefits and burdens already took place.
The two Belle Époque buildings are located in the borough of Neukölln and benefit from their central location inside the rapid transit circle line. They are almost fully occupied and in a sound state of repair. Moreover, they have a certain potential for infill development. A loft conversion could create another four residential units on a combined floor area of around 400m².
“This latest acquisition once again highlights the value-add aspect of our end-to-end investment management approach. Our investor benefits not only from the advanced market penetration and regional network of our team. With our own unit for property development, we have the in-house resources we need to identify a property’s potential for infill development as early as the acquisition phase,” said Michael Krzyzanek, Managing Director for Portfolio Management at Deutsche Investment KVG.
