Swedish residential real estate firm Heimstaden has bought a portfolio of eight properties in Germany with local partner Skjerven Group.

Skjerven, which acted as investment manager for the transaction, said the portfolio of 300 apartments and commercial units was acquired for €54m.

Skjerven will also be taking over the asset management of the portfolio.

Seven of the eight properties are located in the districts of Mitte, Moabit and Wedding. The other property is located in Prenzlauer Berg, part of the Pankow district.

The latest acquisition is the third portfolio deal Skjerven has acquired for Heimstaden in Berlin.

Einar Skjerven, CEO of Skjerven Group, said: “The current price levels continue to allow for purchases at reasonable long-term returns.

“As a consequence, the Berlin housing market should further continue to gain in importance as a safe haven for investors over the coming months and years.”

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