Europa Capital and the Skjerven Group form value-add JV in Berlin

Europa Capital and the Skjerven Group have formed a joint venture partnership for Europa’s new value-add fund focused on Berlin, according to the firms.

The mandate will be focused on Berlin, where the joint venture intends to assemble a real estate portfolio with a focus on residential, with the addition of hotels and commercial space in the coming years. Skjerven Group will act as investment manager and asset manager and will be responsible for sourcing new opportunities.

In the first phase, €150 million ($182 million) will be available for acquisitions in Berlin. The JV has already signed its first two acquisitions with a combined gross asset value of €20 million ($24 million), and is in due diligence on other residential-led opportunities. The JV is also actively pursuing a pipeline of additional investments.

“We have been monitoring the Berlin residential market closely over the last year and firmly believe that the underlying fundamentals — in pa