Heimstaden enters Germany with €66m resi portfolio deal

Scandinavian listed residential specialist Heimstaden announced on Friday that it has made its first foray outside the Nordics with the acquisition of a €66 mln housing portfolio in Berlin.

The portfolio, located in the district of Berlin-Spandau, comprises 27,800 m2 divided into 10 properties. It includes 484 residential units and 50 parking spaces.

Magnus Nordholm, deputy CEO of Heimstaden, explained: ‘Real estate prices in Berlin are growing steadily, starting from a relatively low level. In combination with a very stable rental market, which hardly has any vacancies, this represents a very solid basis for profitable investments’.

‘German residential real estate markets continue to offer great potential, especially with the long-term investment strategy we are pursuing,’ Nordholm added.

The seller of the properties, located on Päwesiner Weg, is a Berlin family office. Closing of the deal is planned for the autumn.

Berlin-based residential company Skjerven Group advised Heimstaden on this transaction.

‘We are ideally placed to support Heimstaden as it enters its first market outside Scandinavia. We look forward to a long-term, fruitful and mutually beneficial partnership,’ commented Einar Skjerven, CEO of the Skjerven Group.


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