Real estate investment manager Empira Group has acquired six multifamily buildings as well as residential and commercial properties in Germany for an unspecified amount.
The acquired properties, comprising 400 residential and commercial units with a total leasable area of around 32,000sqm, are located in the Neukölln, Kreuzberg and Wedding districts of Berlin. The acquisition was made by a subsidiary of the Transition to Green Fund managed by Empira.
Empira said the financing for the acquisition and the planned energy-efficiency modernisation measures has been provided by BerlinHyp and through KfW loans.
Ralf Morisse, head of transactions at Empira Group, said: “This purchase marks an important milestone for our Transition to Green Fund.
“It is our aim to convert energy-inefficient buildings into sustainable real estate portfolios and in doing so make a significant contribution to reducing CO₂ emissions in the property sector.”
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