Deutsche Investment just acquired two properties in Berlin, one located in the Moabit district, the other in the Friedrichshain district. The company is thereby strengthening its residential portfolio while also intensifying its commitment in Berlin’s residential real estate market.
The acquisition in Berlin-Moabit concerns a mixed residential/commercial building of around 3,300 sqm. Built in 1908 and located on a quiet side street of the Hutteninsel quarter, it boasts the typical features of a classic Berlin period building. The property divides into 53 residential and two commercial units.
The property in Berlin-Friedrichshain, completed in 1907, comprises 35 residential and four commercial units on a combined lettable area of around 2,600 sqm. It is located on a quiet side street near the neighbourhood around Boxhagener Platz—a square locally dubbed “Boxi”—which is considered a trendy place to live among tenants of all ages.
Both properties are defined by the charm that makes period buildings and their neighbourhoods so popular in Berlin but also by the richly varied shopping and dining amenities in the area. The properties are more or less fully tenant-occupied, and will be added to the portfolio of Deutsche Investment.
The commercial units in the two properties are used for office, storage, gastronomy and retail purposes.
“As a result of these pinpoint acquisitions of additional Belle Époque buildings in selected micro-environments, we have now added another two real estate assets to our portfolios that are defined by excellent site and asset characteristics which qualify them as low-risk, long-term, value-adding investments,” elaborated Gilbert Merz, Director Transaction Management at Deutsche Investment Kapitalverwaltung AG.
“We are pleased to say that we were able to buy another two attractive investments for one of our separate account mandates. Our focus remains on site and asset quality as we keep scanning the market for further investment opportunities in prime locations,” elaborated Sascha Basic, Member of the Management Board of Deutsche Investment Kapitalverwaltung AG.
During the transactions, Deutsche Investment was advised on legal aspects by the law firms of GSK Stockmann Hamburg and Capstone Legal Rechtanwaltsgesellsschaft mbH, and in regard to technical due diligences by CP Hamburg and by CBRE GmbH.