The State of Berlin has announced it will put its real estate company, Berliner Immobilien Holding (BIH), on the market despite the global liquidity crisis and challenging economic conditions. BIH owns a portfolio consisting of 39,000 apartments and 3,000 commercial units for a market value of EUR 4-5 bn. The public authority has hired UBS Deutschland on an exclusive basis to conduct the sale process.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
