LaSalle Investment Management has acquired a residential development in the Weißensee district of Berlin on behalf of the LaSalle E-REGI fund. The project, named ‘Lacus Quartier’, is a development with 230 units. It was acquired from Buwog and will be completed in April 2021. Financial details were not disclosed.
‘This acquisition is in line with the Fund strategy to diversify its sector allocation by focusing on residential, thus generating a long-term stable income stream for the Fund,’ said Uwe Rempis, managing director and fund manager for LaSalle E-REGI. ‘The Fund is prioritising investments in the strongest cities across Europe and this newly developed asset in Berlin is the perfect foundation to grow its residential exposure.’
Andreas Wesner, head of investment Germany, added: ‘We are very pleased to have been able to implement the Fund’s strategy to increase the residential allocation in the portfolio last year. Residential will remain an important part of our investment strategy in 2021 and following the acquisition of Lindenstrasse in Berlin in September 2020, we have now been able to further strengthen our residential track record with the ‘Lacus Quartier’.
