Real Capital is pleased to announce the purchase of its 20th income-producing property in Berlin, Germany. The property is composed of two buildings, one residential and the other commercial.
The intention is to initially hold the property to benefit from its rental income and then envision the conversion of the commercial building and sell the property as residential condominiums.
Real Capital started its real estate investments in Berlin in 2008 and intends to increase its property acquisitions there to take advantage of the low prices and low financing rates.
With the successful purchase of its 20th property, Real Capital has established itself as the largest non-sovereign Middle Eastern investor in Berlin real estate. Real estate prices have been going up in Berlin. With the capital of Germany growing within a tight property market, prices are expected to continue rising.
Source: Real Capital Holding