Zetland Capital and MBS Invest have purchased a residential development project in Berlin as a part of a wider German investment program. The program aims to promote high-quality mid-market residential developments and modernisation opportunities across Germany. This acquisition comprises an existing building that housed a former aparthotel with a construction permit for additional accommodation. The target is to develop residential units with ancillary commercial facilities. The project is prominently located in the district of Wilmersdorf with excellent access to public transportation. The aims to deliver high-quality affordable homes with a range of environmentally friendly features such as enhanced energy efficiency and infrastructure e-mobility. The purchase price was not disclosed.
Ahmed Hamdani, Managing Partner at Zetland Capital, commented: “We are excited to expand our German residential program with this investment, highlighting our commitment to the sector. This development will benefit from best-in-class ESG credentials whilst providing much-needed living space to the local community.”
Gil Bar, Managing Director and Co-Founder, MBS Invest, commented: "We are proud of acquiring this new residential development project under our recently formed partnership. This prominent site in Berlin is an excellent addition to the program to deliver high-quality mid-market homes with strong ESG credentials across Germany. This acquisition enhances our wider German residential development program, which is targeted to further grow in 2022.”
