Skjerven Group eyeing residential club deals in Germany of €500 mln

German residential company Skjerven Group is is eyeing residential çlub deals in Germany with an investment volume of €500 mln or even higher, CEO Einar Skjerven told PropertyEU.

‘We’ll consider big deals - club deals - with other insitutional investors or even private equity investors,’ he said.

Berlin is an attractive residential market as it still represents good value for money compared to other large, well-known European cities. ‘There are a lot of deals in Berlin. The market has become more opportunistic but it’s still not expensive,’ Skjerven said. ‘Also, rents are rising more quicky than inflation,’ he added.

Exisiting rents in Berlin can be as low as €6.20 per m2, although newly negociated rents are around €10 per m2 for the properties that Skjerven owns. It has already invested €200 mln in Berlin with capital raised from Scandinavian and HNWI investors.