Tikehau Capital, the global alternative asset management group, and BlueRock Group AG (BlueRock), a real estate investment and asset manager based in Zurich and Berlin, have established a joint venture to gradually build up a residential property portfolio in Berlin.

This joint venture will enable the acquisition of approximately 1,000 residential units with value-add potential within Berlin's S-Bahn ring. The individual lot sizes of the multi-family homes to be acquired are expected to range between €2 million and €8 million.
The establishment of the joint venture is in line with Tikehau Capital's pan-European value-add strategy, which places particular emphasis on sustainability and ESG criteria. The central objective is to increase energy efficiency and ensure the long-term viability of the properties.
BlueRock uses its MB Advisors platform, which is firmly established in the Berlin market, to select purchases and implement its active strategy. The 25-strong team working here is responsible for sourcing, due diligence and purchasing the properties.
Steffen Meinshausen, Head of Real Estate Germany at Tikehau Capital, comments: ‘The Berlin residential market is one of the most exciting and challenging markets in Europe. With our joint venture, we are laying the foundation for targeted investment in multi-family properties with value-add potential, not only to expand our portfolio, but also with the aim of securing the future viability of the properties through ESG-oriented measures.’
Ronny Pifko, CEO of BlueRock, adds: ‘With Tikehau Capital, we have a financially strong partner at our side who will support us in consistently implementing the planned value-add concept. Through additions, redensification and the elimination of modernisation backlogs, we want to leverage the existing potential of the properties and at the same time create urgently needed living space in Berlin.’
BlueRock is a proven expert in the sustainable development of residential properties in Berlin. Its investment strategy pursues a granular approach that combines economic viability with ecological and social goals.
A purchase agreement is already in place for a first property in the Schöneberg district. Built in 1903, the 5-storey residential building comprises approximately 30 residential units with a total rental area of around 2,500 m². 
Tikehau Capital and BlueRock received legal support for the transaction from McDermott Will & Emery (Tikehau Capital) and Greenberg Traurig (BlueRock).
Further acquisitions are currently being reviewed. In addition, further properties have already been identified, several of which are currently under exclusive negotiation and in the due diligence phase.