BlueRock Group further expands presence in Berlin's residential market

The real estate investment boutique BlueRock Group has acquired a total of 13 residential buildings in the German capital. The Swiss company is thus investing 112 million euros in its own Berlin residential real estate portfolio. The centrally located buildings comprise a total lettable area of around 25,000 m² distributed across 326 residential and 25 commercial units and will be refurbished for a high double-digit million euro amount. The auditing firm PWC provided tax advice to the BlueRock Group on the transaction and structuring. FAP Finance acted as financing advisor. Locally, the BlueRock Group is supported by MB Advisors, which is currently strengthening the strategy mainly in purchasing.

The properties are mainly Gründerzeit buildings in the districts of Wedding, Neukölln, Moabit, Charlottenburg, Prenzlauer Berg and Schönenberg. The 25 commercial units, mainly located on the ground floor, offer spaces from 20 to 300 m². The capital city offensive is not yet complete with these purchases: Further investments on the same scale are planned. The BlueRock Group's Berlin portfolio has a planned investment volume of up to 300 million euros. Investors are family offices from Europe and institutional investors.

"When we planned to invest in German residential real estate in addition to our many years of experience with office properties, it was immediately clear to us that it should be in Berlin. The modern city is one of the most attractive real estate locations in Europe - a global metropolis that can withstand any crisis and is constantly evolving. We want to be a part of this lively development. Since it is almost impossible to build in central locations, existing buildings open up an exciting alternative," reports Ronny Pifko, Managing Partner and co-founder of the BlueRock Group.

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