M&G Real Estate has acquired two serviced apartment assets in Berlin and Bielefeld by way of a forward purchase, on behalf of its €5.2 billion ($5.9 billion) European Property Fund. The two transactions, totaling €73.5 million ($84 million), mark the strategy’s first investment into the serviced apartment sector in Europe. The assets were developed by Livory, a German real estate development platform with a focus on build-to-rent and serviced apartments.
Since the pandemic, demand for serviced apartments has broadened and continues to grow faster than traditional hotels, benefiting from evolving travel patterns and growing demand for flexible accommodation from an increasingly mobile workforce. The sector appeals to a diverse range of occupiers, including business travelers, project-based employees, relocating professionals and leisure guests, supporting occupancy across both short- and extended-stay formats. With supply remaining constrained in many markets, the se
