The Grounds makes tracks with Berlin residential deals

The property in Bernau comprises a residential park built in 1997 which includes 59 apartments across 4,070 m2 of rentable area. There are also 64 car parking spaces on the 7,413 m2 of land, 32 of which are in the underground garage and 32 in the outdoor area. The Grounds intends to keep the residential park in its fixed assets.

The second deal, a terrace of houses in Dallgow-Döberitz, includes a total of 28 rented houses on a 7,200 m2 site built in 1997 which The Grounds intends to privatise. The houses provide between 135 and 143 m2 of living space, and have additional areas in the basement and attic.

Although they are close to the city limit of Berlin, they are not within the region of the federal state of Brandenburg, so they are not subject to the Berlin rent cap regulation, The Grounds noted.

Jacopo Mingazzini, a member of the management board of The Grounds, said: 'These two most recent new acquisitions already enabled us to seamlessly continue our previous year’s high growth dynamic following on soon after the year-end.

'As well as these individual features and micro-locations, the demographic trends in Berlin’s ‘affluent suburbs’ are another most important aspect in favour of these two locations. For about two years, we have already observed that Berlin’s approximately 15-year population growth phase seems to be at an end, instead of which more people are again settling in the federal capital’s closer surroundings.

'Due to the continuing inadequacy of new residential construction in Berlin, the surrounding region will probably become increasingly attractive as a residential and investment location in the future.'

According to the firm, both properties feature good transport links to Berlin, together with a well-developed infrastructure with shopping facilities and public establishments such as day-care centres and schools.