Inspiration Group sells portfolio of residential and commercial property in Berlin-Charlottenburg
The Inspiration Group, a privately-owned real estate investment company based in Berlin, has sold a portfolio of residential and commercial properties in Berlin-Charlottenburg for EUR 50 million. The purchasers are various private investors.
The portfolio comprises four properties, with a total of 87 residential and 18 commercial units. The lettable area totals around 11,100 square metres. This comprises around 9,500 square metres of residential accommodation and some 1,600 square metres of retail, office and cafe/restaurant accommodation.
The sale of 50 apartments was accompanied by YS Real Estate GmbH as sales partner. Two properties were sold completely and directly by the Inspiration Group.
The Inspiration Group acquired the assets in 2017 and has since upgraded them by active asset management. For example, the courtyards were renovated, extensive refurbishment work was carried out and the electrical installations in the properties were renewed.
Goor Rosenberg, CEO of the Inspiration Group, comments: The Berlin housing market remains attractive for investors. We therefore decided to take advantage of the market situation for a successful exit. Nevertheless, we will continue to acquire residential property in Berlin and throughout Germany. By applying our real estate expertise in combination with a proactive asset management approach, we will leverage hidden potential.
About the Inspiration Group
The Inspiration Group is a privately-owned real estate investment company, based in Berlin. The company has been investing in residential and commercial property in Germany since 2009. After initially concentrating on Berlin, the focus is now on property in all risk classes, throughout Germany. So far, a transaction volume of ca. EUR 500 million has been realised (as at September 2020). The Inspiration Group’s nationwide real estate portfolio has a volume of around EUR 150 million and a total lettable area of some 60,000 square metres, around 70% of which is in residential property (as at September 2020)