Capital management firm Deutsche Investment Kapitalverwaltungsgesellschaft has bought a housing estate in the Neukölln area of Berlin.
The property, comprising 286 flats and two commercial units, was bought from a private owner for an undisclosed price.
“Berlin’s residential property market remains as attractive as ever for investments,” said managing director for sales and investment at the firm, Eitel Coridass.
According to the real estate investor, the acquisition was carried out within the framework of an individual mandate for an institutional investor account that the firm manages in association with EB Group.
The transfer of rights and duties on the building, which is already fully occupied, is set to take place in October this year.
Deutsche Investment and EB Group currently manage around €1.5 billion of real estate assets across Germany.
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