Skjerven Group has announced the acquisition of a 20,000-m2 portfolio in the German capital on behalf of Swedish housing group Heimstaden for €54 mln.
The package comprises 300 units across eight properties, seven of which are located in the Berlin districts of Mitte, Moabit and Wedding. The other property is located in Prenzlauer Berg, part of the Pankow district.
Skjerven Group is Heimstaden’s local partner for Germany and acted as investment manager for the transaction. Skjerven Group will also take over the asset management of the portfolio.
The purchase represents the third portfolio deal Skjerven Group has acquired for Heimstaden in Berlin. Heimstaden plans to hold on to the Berlin assets for the long term and is planning further purchases of residential buildings in the city area.
’The current price levels continue to allow for purchases at reasonable long-term returns,’ said Einar Skjerven, CEO of Skjerven Group. ‘As a consequence, the Berlin housing market should further continue to gain in importance as a safe haven for investors over the coming months and years.’