Deutsche Investment acquires two residential and commercial buildings and an apartment building with a total of around 5,200 square meters of rental space in Berlin-Tiergarten. The purchases were made for an individual mandate of the investment manager.
The acquired properties were built at the end of the 19th and the beginning of the 20th century and are located on Gotzkowskystraße and on Ufnaustraße in Berlin’s Moabit district. The residential and commercial building on Gotzkowskystraße has 30 residential units and three commercial units. It is almost fully leased. The two buildings on Ufnaustraße comprise a total leasable area of around 3,200 square meters, which is divided into 60 residential units and four commercial units. In addition, there are eleven rented parking spaces. The total purchase price of the units is just under EUR 18 million.
“Both transactions had their own unique charm for us. The properties are attractive old building properties in a central, sought-after location in northern Tiergarten near Neues Ufer, which is why we are very pleased to add them to our portfolio and orient them for long-term portfolio management,” reports Nina Sobotta, Deutsche Investment Kapitalverwaltung AG Transaction Manager for the Berlin/Brandenburg region. In the case of the properties on Ufnaustraße, Deutsche Investment sees re-densification potential on a total area of over 1,000 square meters. Enver Büyükarslan, Director of Transaction Management of Deutsche Investment Kapitalverwaltung AG, adds: “Due to the demand situation in the rental market, we are in the project planning phase for additional residential space. Our in-house project development team is currently planning to generate additional living space in the form of new construction or expansion measures in combination with the upgrading of existing buildings. Specifically we are talking here about around 30 additional residential units, which can be implemented in the course of closing the gap as well as loft additions and loft conversions.
Deutsche Investment was advised by SNP Schlawien Partnerschaft on legal matters and by CBRE and Drees & Sommer on technical appraisals for both transactions.
Your company contact:
Tamara Martin | Deutsche Investment Kapitalverwaltung AG
Phone: +49 30 75 444 74 13