Cushman & Wakefield (C&W) has sold four residential properties in Berlin on behalf of various Irish investors.
Cushman & Wakefield (C&W) has sold four residential properties in Berlin on behalf of various Irish investors.
The three residential properties in Tempelhof and one apartment building in Dahlmannstrasse in Charlottenburg comprise 173 residential apartments and nine commercial units over 14,000 m2.
The asset were sold for a total of €20 mln, equating to €1,300 and €2,350 per m2. They were purchased by a municipal housing company and a German-Russian family office.
Hanns-Joachim Fredrich, partner at C&W and head of the company's Berlin office and investment department, commented: 'The demand for residential property in Berlin remains high. Despite this, we are also seeing an increase in the types of purchasing groups. In addition to institutional investors, we are currently experiencing high demand from municipal housing companies and international private investors.'