Deutsche Investment acquired 126 residential units in the town of Blankenfelde-Mahlow in the state of Brandenburg. The acquired real estate is earmarked for the “Deutsche Investment – Wohnen V” special property fund.
The deal included a total of nine properties, located at “Am Lückefeld” in the north-east part of Blankenfelde-Mahlow, which is the most populous town in the Teltow-Fläming district. They were completed in 2020 on a plot area of around 10,500 square metres, and include a balanced mix of apartments of 1 to 3 bedrooms that have an average dwelling size of about 62 square metres. The purchase price was c. EUR 32.5 million. “It has been our experience that new-build units in areas with convenient transport links to the Berlin metro region tend to have very low vacancy rates. With this as with previous transactions, we anticipate a smooth reletting process because the apartment sizes match the average market demand, and because the cost rents will be market-consistent,” explained Tamay Demirel, the transaction manager responsible for the deal at Deutsche Investment Kapitalverwaltung AG. During the transaction process, Deutsche Investment was advised on legal aspects by the law firm GSK Stockmann and in regard to the technical due diligences by CBRE. The estate agent on the seller side was Tolle Immobilien GmbH.
The investment strategy of the “Deutsche Investment – Wohnen V” special property fund focuses primarily on investments in central locations of Germany’s “Big Seven” cities and selected fast-growth cities or regions. “Demand for housing in the suburbs of Berlin is growing in sync with their positive demographics. Main drivers of this trend include the insufficient housing supply in Berlin, the now excellent infrastructure access of the city’s surrounding regions and, specifically in the case of these properties, the fact that prestigious employers such as Mercedes Benz, Lufthansa and soon even Tesla, are located in the immediate vicinity,” elaborated Enver Büyükarslan, Director for Sales and Transaction Management at Deutsche Investment Kapitalverwaltung AG.
