Deutsche Investment has invested €12.5m to buy further residential properties in Germany’s capital.
The real estate fund manager, on behalf of a single account mandate managed with with EB Group, has bought the two Belle Époque buildings in Berlin from German investment entity.
The buildings are located in the borough of Neukölln and benefit from their central location inside the rapid transit circle line.
The properties are divide into 60 residential and 6 commercial units and Deutsche Investment said the almost fully assets have the potential for infill development.
Michael Krzyzanek, managing director for portfolio management at Deutsche Investment, said: “This latest acquisition once again highlights the value-add aspect of our end-to-end investment management approach.
“Our investor benefits not only from the advanced market penetration and regional network of our team. With our own unit for property development, we have the in-house resources we need to identify a property’s potential for infill development as early as the acquisition phase.”
