CBRE Investment Management (“CBRE IM”), on behalf of investment programs sponsored by the firm, has exchanged contracts to acquire a circa €360 million residential portfolio in Berlin, Germany, providing circa 1,200 residential apartments. The vendor is Vonovia.
The entire 91,275 sq m multi-family residential portfolio, all newly built or delivered in stages with full completion by mid-2024, comprises 16 buildings located in three different locations in Berlin. The portfolio is of modern design, high quality, and strong sustainability credentials. All apartments have a balcony or terrace, underfloor heating, and local district heating is used to meet heating and hot water requirements. The apartments are all within walking distance of local amenities and transport hubs offering excellent connectivity to Berlin’s City Centre.
Source : Company