Swedish landlord Heimstaden has acquired a portfolio of 599 German apartments for €125 mln.
Investment manager Skjerven Group executed the transaction on Heimstaden's behalf, which includes flats in Berlin and Bielefeld covering some 44,650 m2.
'Heimstaden's commitment confirms the sustainable housing potential of Berlin and the growth regions in Germany," said Einar Skjerven, managing director of Skjerven Group, which will take over the asset management of the portfolio as Heimstaden's German partner.
'Even the large number of legal restrictions and the confusing political situation in Berlin will hardly stop long-term fundamentals and investor interest,' Skjerven added.
Heimstaden intends to keep the portfolio for the long term and is planning further purchases of residential buildings in Berlin and other German growth locations, according to Skjerven.
Bottermann Khorrami advised on legal matters.