LaSalle Investment Management has acquired a residential development in Berlin on behalf of the LaSalle E-REGI fund. The project, named Lacus Quartier, is a development with 230 units. It was acquired from BUWOG and will be completed in April 2021.
The development is located in a quiet and family-friendly part of the improving Weißensee district in Berlin-Pankow. The area benefits from its proximity to the popular Prenzlauer Berg district and its expansion over recent years. It is one of the fastest growing districts in Berlin, with forecast population growth of more than 10 percent by 2030.
Uwe Rempis, managing director and fund manager for LaSalle E-REGI, said, “This acquisition is in line with the fund strategy to diversify its sector allocation by focusing on residential, thus generating a long-term stable income stream for the fund. The fund is prioritizing investments in the strongest cities across Europe and this newly developed asset in Berlin is the perfect
