Press Release
Deutsche Investment Acquires Residential Property Portfolio for c. EUR 26 Million
• Portfolio includes four properties with combined total of 96 residential units and 6 commercial units • Assets located in sought-after residential areas in the boroughs of Pankow, Friedrichshain-Kreuzberg, Tempelhof-Schöneberg and Neukölln
Hamburg, 20 October 2020 – The AIF management company Deutsche Investment KVG just acquired a residential property portfolio in a total investment volume of c. EUR 26 million, the properties being located in central locations in Berlin’s inner city. The two properties divide into 96 residential and 6 commercial units. The acquisition was transacted under a single mandate by an institutional investor on behalf of whom Deutsche Investment has been investing in Berlin’s residential real estate market since May 2019. The transfer of the properties’ benefits and burdens already took place.
The Belle Époque and late-nineteenth-century properties are situated in central inner-city locations in Pankow, Friedrichshain-Kreuzberg, Tempelhof-Schöneberg and Neukölln, and are integrated into the local infrastructure, which is typical of Berlin insofar as it mixes one-off neighbourhood retailers with renowned retail multiples. All of the properties lie within easy walking distance of public mass transit stops, including centrally located underground stations and rapid transit stations. The houses are almost fully occupied. In addition, there is potential for the new-build construction of further residential units within the framework of infill densification programs, especially through the development of attic storeys.
“For our institutional investors and for us, the investments we have been making in Berlin since last year are a clear commitment to the city’s housing market,” said Michael Krzyzanek, Managing Director for Portfolio Management at Deutsche Investment KVG. “What we appreciate about this recently acquired residential portfolio is, once again, that they are part of close-knit Berlin neighbourhoods that make each property unique. Our
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approach of long-term property asset ownership enables us to keep the highly liveable residential environment intact for the tenants, and simultaneously to secure long-term stability of rental income for our investor.”
Press Contact c/o RUECKERCONSULT GmbH Peter Dietze-Felberg Tel.: +49 30 28 44 987 62 E-Mail: [email protected]
Company Contact Deutsche Investment Kapitalverwaltungsgesellschaft mbH Burchardstrasse 24, D-20095 Hamburg Tel.: +49 40 33 460 49 70 E-mail: [email protected] www.deutsche-investment.com
About Deutsche Investment Deutsche Investment KVG is an AIFM company licensed by the Federal Financial Supervisory Authority (BaFin) that launches and manages open-ended special AIFs whose investments focus on residential, office and grocery (food retail) properties. DIR Deutsche Investment Retail GmbH is an asset and transaction manager specialising in the segment retail warehouses and retail warehouse parks with a focus on the food retailing business, and bundling the group’s competence in this asset class. Part of a conglomerate and employing roughly 210 team members in four different locations, Deutsche Investment offers a vertically integrated portfolio of deliverables that includes fund, investment, asset, property and facility management services as well as property development competence. At the moment, the corporate conglomerate has real estate assets worth c. EUR 1.6 billion under management across Germany.
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