CBRE Investment Management has acquired 142 housing units with a combined GLA of around 10,910 m2 in Berlin’s central Mitte district on behalf of an international mandate.
Located in five separate buildings, the apartments are part of the Mittenmang urban quarter which was completed three years ago. The seller is Lakeward Real Estate, an international real estate private equity investment firm based in Switzerland. Financial details were kept confidential.
Sebastian Ehrhardt, head of transactions DACH, CBRE Investment Management, commented: ‘The apartments stand out thanks to the high quality of the building and the location, making the asset an ideal investment for our international mandate. Adding to that, the development was made with social responsibility to the Berlin neighbourhood in mind, which fits well with our ESG strategy. Mittenmang was conceived with a focus on adding value to the community and at locally affordable pricing.’