Europa Capital, the pan-European real estate investment manager, announces the launch, on behalf of its latest value add fund, of a new joint venture (the “JV”) targeting residential investments in Berlin with specialist local residential asset manager, Skjerven Group.
The JV will agglomerate a substantial portfolio of residential assets in and around the city of Berlin with short to medium term value enhancement opportunities, and target a total GAV of €150 million.
The JV recently signed its first two acquisitions with a combined GAV of c. €20 million and is in due diligence on other residential led opportunities as well as actively pursuing a pipeline of further investments.
The JV builds on Europa Capital’s long-standing track record in the living sector, which represented 80% of its transactions activity in 2020. T0-date, Europa Capital has invested c. €1 billion into built PRS and student accommodation, totalling over 10,500 beds across the UK, Spain, Denmark and Germany.
Berlin based Skjerven Group will provide asset management services to the JV and will be responsible for sourcing new opportunities.
Source : Europa Capital