BlueRock acquires Build to Rent property portfolio in Berlin

BlueRock has acquired a Build to Rent property portfolio in Berlin that includes 82 residential units in three districts.

BlueRock has acquired a Build to Rent property portfolio in Berlin | BTR News
BlueRock has acquired a Build to Rent property portfolio in Berlin.

Property investment and asset manager BlueRock Group AG (BlueRock) based in Zurich and Berlin, has announced the successful acquisition of a portfolio comprising four residential and commercial properties in Berlin.

The acquisition was carried out on the instructions of a family office wishing to expand its holdings in the German capital. The vendor was a private investor.

The four-storey buildings are situated in the city districts Mitte, Friedrichshain and Charlottenburg. The four- and five-storey houses were built between 1900 and 1910.

The buildings provide a total lettable area of around 7,900 sqm and are divided into 82 residential Build to Rent units that range in size from approximately 30 sqm to 145 sqm.

“At the moment, acquiring residential properties in the Berlin market is very challenging. This makes us particularly pleased that our well-connected Berlin team, led by Michael Brand, succeeded in identifying this portfolio and completing the acquisition. We will continue striving to make further acquisitions in Berlin to expand our portfolio.”

Ronny Pifko, CEO, BlueRock

Bartsch Steuerberatungsgesellschaft mbH supported BlueRock on the tax aspects of the transaction, while Heussen Rechtsanwaltsgesellschaft mbH and Cornelius Krause Rechtsanwaltsgesellschaft provided legal advice. MB Advisors carried out the technical due diligence.