Deutsche Investment buys Berlin-focused portfolio for €220m

Deutsche Investment has acquired a residential and commercial portfolio in Berlin for approximately €220 million ($247 million) for its investment funds.

The seller is an international corporation of a European family office.

The portfolio, with predominantly residential use, is around 84 percent occupied and comprises 38 properties in Berlin, as well as other properties in Leipzig and Schönberg near Lübeck. Around 90 percent of the rental income for the 1,088 residential and 103 commercial units is realized in Berlin.

The 38 Berlin residential and commercial buildings are located mainly in central locations within the Berlin S-Bahn ring, especially in the popular districts of Friedrichshain, Moabit and Wedding. Another four residential and commercial buildings and a vacant lot are in Leipzig and the surrounding area as well as an apartment building in Schönberg near Lübeck.