Tristan Capital Partners and Lübke Kelber have acquired a €240m residential portfolio in Germany from Brack Capital Properties.
Tristan Capital, on behalf of the EPISO 6 fund, is investing in the residential portfolio in Leipzig with German real estate investor Lübke Kelber acting as asset manager and co-investor.
Constantin Plenge, managing director at Tristan, said the transaction provides a “strong footing in the German residential market as we look to build a larger, more diversified portfolio”.
”Leipzig is the ideal location for our first acquisition, it is the fastest-growing major city in Germany with corresponding rental and value growth potential; this portfolio is well-located and fully occupied delivering a resilient cashflow.
“Germany remains a core market for us and we’re continuing to assess thematic strategies which benefit from supply-constrained long-term demand drivers,” Plenge said.
Marc Sahling, managing director of Lübke Kelber, said: “The joint venture is part of our three-columns strategy at Lübke Kelber with its divisions transaction residential, transaction commercial and the asset and investment management and joint ventures. This reflects the intensifying internationalisation of the company.
“It underlines the fact that residential real estate in major German cities continues to be an attractive investment product and is also in demand from foreign investors in conjunction with regional expertise.”
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