Meyer Bergman has acquired a majority interest in a large residential portfolio with assets in Frankfurt and Greater Frankfurt. The scheme comprises 72,000m² and consists of 800 residential and 125 commercial units spread over 60 properties. The transaction marks Meyer Bergman’s first residential acquisition in Germany and first acquisition since 2002 in Frankfurt, where the firm has a well-established local presence.
Marcus Meijer, CEO of Meyer Bergman, said: “Today’s acquisition underlines the strength of our German team and highlights the benefits of strong local market knowledge to secure opportunities where we can add value and deliver strong returns for our investors and clients. Europe’s continued urbanisation focused around a number of core city regions, will continue to drive demand for high-quality residential space, which remains supply-constrained in many markets.”
Henning Zimmermann, Managing Director, Germany, at Meyer Bergman, said: “Frankfurt is the leading business destination in Europe and has strong potential to attract new investors and corporate occupiers post-Brexit. The city’s commercial success is a key driver of demand for quality housing in the city. This acquisition builds on our expansion into urban mixed-use schemes with a strong residential element and we will be drawing from our expertise in residential asset management to help drive value.”