Deutsche Investment Kapitalverwaltungsgesellschaft mbH has acquired new property assets in an investment volume of c.€100m in its core markets of Berlin and Hamburg: It purchased a residential portfolio including ten assets in Berlin and one in Hamburg for a purchase price of c.€76.5m. In addition, it picked up another four residential buildings in Berlin that were bought from private investors for prices totalling c.€23.5m. The acquisition was done within the framework of a single mandate for an institutional investor account that Deutsche Investment manages in association with EB GROUP. Taken together, these properties divide into 472 residential and commercial units. The transfer of benefits and burdens already took place.
The Berlin-Hamburg portfolio breaks down into 359 residential and 24 commercial units, most of which are tenant-occupied. While the assets in Berlin are period buildings from the Belle Epoque located inside the rapid-transit circle line, the asset in Hamburg is located in the Eppendorf district. The other recent acquisitions in Berlin also represent Belle Epoque buildings in popular downtown locations in the districts of Kreuzberg, Neukolln, Schoneberg and the borough of Treptow-Kopenick. Collectively, the four properties acquired add up to 81 flats and 8 commercial units. The properties are fully occupied.
“Berlin remains an attractive investment location for us, and we have every intention—as previously announced—to expand our footprint here. Because we are convinced that Berlin’s residential property market offers lucrative investment opportunities, especially for investors with conservative investment strategies and a long-term investment horizon,” said Michael Krzyzanek, Managing Director for Portfolio Management at Deutsche Investment KVG.
