BlueRock Group launches new Berlin residential real estate fund

Berlin, 21.11.2022 - The real estate investment boutique BlueRock Group is acquiring further properties for its new Berlin residential real estate fund. The latest purchases in the current quarter are three residential buildings in the Berlin districts of Friedrichshain, Schöneberg and Wedding. The properties have a total of 70 residential units on approx. 4,800 m2 and six commercial units on the ground floors. The Swiss company plans to create around 800 m2 of new living space by adding storeys and increasing the density of the three properties. Further purchases are already being finalised. The expansion of the Berlin residential real estate portfolio is planned to a total investment volume of around 300 million euros. Due to strong demand, the fund follows the invested-out example of the BlueRock Group's first Berlin residential real estate fund with a total of 621 residential and commercial units, which has been successfully managed since 2020.
The properties are mainly Gründerzeit buildings in the districts of Wedding, Neukölln, Moabit, Charlottenburg, Prenzlauer Berg and Schönenberg. Investors are family offices from Europe and institutional investors.
"We know the Berlin market and the local conditions in the individual districts well and can therefore also find and assess great investment options in relation to current market developments. Berlin continues to have incredibly high potential and we are pleased to see that the planned building permits are being implemented smoothly so that new residential space can be created quickly in the centre of Berlin. We are very pleased to be able to further expand our involvement in Berlin and establish ourselves even more firmly in the city," says Ronny Pifko, Managing Partner and co-founder of BlueRock Group.
Acquisition, development and asset management will be handled locally in Berlin by MB Advisors, a subsidiary of BlueRock Group.  
"We will continue to expand our rental portfolio in 2023 and thus sustainably strengthen our presence in our core market Berlin," explains Enis Mergün COO & Head of Transaction of MB Advisors. "With now around 40,000 m² in our portfolio, we are a fast-growing company in the Berlin residential real estate market. In doing so, we focus on investments in affordable housing. This is ensured, among other things, by a socially responsible rent policy and an appropriate tenant:in selection as well as by addressing a broad target group through the present flat mix."

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