BlueRock Group acquires residential property portfolio in Berlin

by   CIJ News iDesk III
2024-06-05   11:05
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BlueRock Group AG (BlueRock), the property investment and asset manager based in Zurich and Berlin, has successfully acquired a portfolio, comprising four residential and commercial properties in Berlin. The acquisition was carried out on the instructions of a family office wishing to expand its holdings in the German capital. The vendor was a private investor.

The four-storey residential buildings are situated in Berlin-Friedrichshain. The four- and five-storey houses were built between 1900 and 1910. They provide a total lettable area of around 7,900 square metres and are divided into 82 residential units that range in size from approx. 30 to 145 square metres.

Ronny Pifko, CEO of BlueRock, stated: “At the moment, acquiring residential properties in the Berlin market is very challenging. This makes us particularly pleased that our well-connected Berlin team, led by Michael Brand, succeeded in identifying this portfolio and completing the acquisition. We will continue striving to make further acquisitions in Berlin to expand our portfolio."

Bartsch Steuerberatungsgesellschaft mbH supported BlueRock on the tax aspects of the transaction, while Heussen Rechtsanwaltsgesellschaft mbH and Cornelius Krause Rechtsanwaltsgesellschaft provided legal advice. MB Advisors carried out the technical due diligence.

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