Optimum Asset Management has added a property in Berlin to its fourth German real estate fund’s portfolio.
The real estate investment manager’s German Real Estate Fund IV (GREF IV) has invested an undisclosed amount to acquire the 1,191sqm rental property.
The asset, built in 1910 and partially modernised in 2017-2018, consists of 22 residential apartments and two retail spaces.
Alberto Matta, chairman and founder at Optimum Asset Management, said: “The acquisition is a reminder of the strength of Berlin’s unique rental market. The continued improvement and urbanisation of major cities across the country creates attractive opportunities for residential investment.
“Berlin has seen significant inflow of investment to improve both urban and suburban regions. This, combined with a continued supply-demand imbalance due to the growing population in major German cities, means we continue to see the significant opportunity to create value in this market.”
GREF IV invests in both residential and commercial properties ranging between €5m and €40m. The fund targets a total size of €350m, with the primary target area being Berlin with selected investments in Germany’s high-growth, supply-constrained cities such as Berlin, Hamburg, Dresden, Leipzig, Cologne, and Düsseldorf.
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