Deutsche Investment acquires housing estate in Berlin-Neukölln

Hamburg, 21 August 2019 – Deutsche Investment Kapitalverwaltungsgesellschaft just acquired a housing estate in Berlin-Neukölln which comprises 286 flats and two commercial units with a combined lettable area of around 16,500 square metres. The acquisition was done within the framework of an individual mandate for an institutional investor account that Deutsche Investment manages in association with EB GROUP. The estate was sold by a private owners’ association. The transfer of rights and duties is scheduled to take place on 01 October 2019. The parties have agreed not to disclose the purchase price.

The surroundings of the housing estate in the Britz sub-district blend urban charm with the almost rural idyll of suburbia: Diverse shopping venues, restaurants and cultural amenities are spread throughout the immediate vicinity, as are extensive green areas, such as Britzer Garten or the former grounds of Tempelhof Airport. The properties lie within walking distance of public transportation links, the central rapid transit and underground station “Hermannstrasse” on the circle line being only a few minutes away. The building cluster divides into six residential properties and is fully occupied. The average dwelling size is about 57 sqm.

“We succeeded in procuring a well-appointed housing estate in one of Berlin’s fastest-growing boroughs within a very short period of time. Finding properties in such a keenly sought micro-environment has become very hard in the present market. Here, our investor benefits from the deep market penetration of our regional network and from our connections to relevant market players that have evolved over many years,” said Patrick Gehring, Head of Transaction Management at Deutsche Investment KVG.

“Berlin’s residential property market remains as attractive as ever for investments. On behalf of an institutional investor, we are committed mainly to the preservation of capital, the generation of steady revenues and long term ownership, and in these regards, the fundamentals in Berlin remain favourable now as then,” added Eitel Coridass, Managing Director for Sales & Investment Management at Deutsche Investment KVG.

The individual mandate was awarded to Deutsche Investment in association with EB GROUP and focuses on residential real estate in sought urban locations. The planned investment volume equals c. EUR 250 million. Deutsche Investment and EB GROUP take care of the fund, investment, asset, property and facility management as well as of property developments for possible infill densification of portfolio properties.

Deutsche Investment was advised by GSK Stockmann Rechtsanwälte Steuerberater Partnerschaftsgesellschaft mbB. CBRE GmbH acted as a transaction advisor.

 

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Deutsche Investment acquires housing estate in Berlin-Neukölln

Hamburg, 21 August 2019 – Deutsche Investment Kapitalverwaltungsgesellschaft just acquired a housing estate in Berlin-Neukölln which comprises 286 flats and two commercial units with a combined lettable area of around 16,500 square metres. The acquisition was done within the framework of an individual mandate for an institutional investor account that Deutsche Investment manages in association with EB GROUP. The estate was sold by a private owners’ association. The transfer of rights and duties is scheduled to take place on 01 October 2019. The parties have agreed not to disclose the purchase price.

The surroundings of the housing estate in the Britz sub-district blend urban charm with the almost rural idyll of suburbia: Diverse shopping venues, restaurants and cultural amenities are spread throughout the immediate vicinity, as are extensive green areas, such as Britzer Garten or the former grounds of Tempelhof Airport. The properties lie within walking distance of public transportation links, the central rapid transit and underground station “Hermannstrasse” on the circle line being only a few minutes away. The building cluster divides into six residential properties and is fully occupied. The average dwelling size is about 57 sqm.

“We succeeded in procuring a well-appointed housing estate in one of Berlin’s fastest-growing boroughs within a very short period of time. Finding properties in such a keenly sought micro-environment has become very hard in the present market. Here, our investor benefits from the deep market penetration of our regional network and from our connections to relevant market players that have evolved over many years,” said Patrick Gehring, Head of Transaction Management at Deutsche Investment KVG.

“Berlin’s residential property market remains as attractive as ever for investments. On behalf of an institutional investor, we are committed mainly to the preservation of capital, the generation of steady revenues and long term ownership, and in these regards, the fundamentals in Berlin remain favourable now as then,” added Eitel Coridass, Managing Director for Sales & Investment Management at Deutsche Investment KVG.

The individual mandate was awarded to Deutsche Investment in association with EB GROUP and focuses on residential real estate in sought urban locations. The planned investment volume equals c. EUR 250 million. Deutsche Investment and EB GROUP take care of the fund, investment, asset, property and facility management as well as of property developments for possible infill densification of portfolio properties.

Deutsche Investment was advised by GSK Stockmann Rechtsanwälte Steuerberater Partnerschaftsgesellschaft mbB. CBRE GmbH acted as a transaction advisor.

 

Download the press release

Go back

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