ADO Properties is investing €218m in Berlin’s residential property sector.
The firm, which invests purely in Berlin, is buying 1,905 units in the German capital, of which 1,877 are residential and 28 commercial.
The deal is expected to close in August.
Annual rent from the assets, in the Schöneberg, Wilmersdorf and Neukölln districts, total €10.2m.
Rabin Savion, ADO Properties chief executive, said the acquired portfolios fit “very well” into the firm’s strategy.
“We see strong accretion potential to our existing portfolio,” he said.
Current rents of €6.20 per sqm per month are expected to rise to €7.30 per sqm per month.
The firm recently appointed Florian Goldgruber as CFO.