CBRE IM has exchanged contracts to acquire, on behalf of several investor solutions sponsored by the firm, a residential portfolio of five multi-family assets providing 1,350 apartments in Germany. The vendor is Vonovia. The entire residential portfolio, all newly built or delivered in the next few months, comprises five buildings of which two are located in Berlin, two in Munich, and one in Frankfurt. The assets are centrally located and are well-connected with public transport and local amenities are in close proximity.
“To have secured this deal in Germany – one of the strongest residential markets in Europe - represents the strength of the CBRE IM platform. We have the proven capabilities to transact at scale for a number of different capital sources. With long-term structural drivers, the residential sector is proving attractive to investors, and we will continue to seek investment opportunities with the aim to invest €1.5bn across Europe this year,” commented Marius Schoner, Head of EMEA Residential Operator Division at CBRE Investment Management.
Sebastian Ehrhardt, Head of Transactions Germany at CBRE Investment Management added: “We’re very pleased to have acquired these high-quality assets that meet our affordability, sustainability, and investment requirements. All five buildings have been built to high ESG specifications with energy efficiency features. We remain focused on finding investment opportunities in the large metropolitan areas in Germany either standing investments or developments.”
