Deutsche Investment just acquired an attractive, well-appointed building on Schillerstrasse in Berlin’s Charlottenburg district that consists of both residential and commercial units and that is earmarked for one of its institutional funds whose focus is on rental housing. Built in 1895 close the the popular Karl-August-Platz square, the building has a total lettable area of 2,175 sqm and divides into 22 residential units and 3 commercial units. The commercial units located on the ground floor are occupied by established and creative-media tenants.
“By acquiring the house on Schillerstrasse, we invested in one of most desirable micro-environments in Berlin. What makes the property a great addition to our rental housing portfolio is its high liveability combined with long-term development potential and its premium location. We thus keep pursuing our strategy of pinpoint investments in high-value real estate in established inner-city locations,” said Gilbert Merz, Head of Transaction Management at Deutsche Investment.
The technical and legal due diligences were facilitated by CBRE Berlin and the Arnecke Sibeth Dabelstein law firm. Wüest Partner acted as appraisers.
The acquisition is part of Deutsche Investment’s dedicated effort to keep enlarging the portfolio of this rental housing fund and to expand its own footprint in well-established locations in Berlin.
