US multi-family giant Greystar is homing in on its first site in Germany as it continues its expansion into new European markets.
The group has entered exclusivity on a large, green infill site in east Berlin, in the district of Lichtenberg.
Steven Zeeman (above), managing director of investments for continental Europe, said Greystar hoped to secure the site soon, to create a community of 1,500 rental homes, for a mix of target groups of renters.
Germany has been the next goal for Greystar which is already actively investing, operating and developing in the UK, the Netherlands and Spain.
Greystar’s initial focus in Germany will be on Berlin and Frankfurt. ‘Berlin is the edgy, exciting city and it is big. Since the government moved there you see a lot of companies going to the city; there is an influx of people and so huge demand for housing,’ Zeeman said.
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