M&G Real Estate has completed the recapitalization of a residential portfolio in central Berlin and formed a joint venture with BlueRock Group AG.
The portfolio comprises 302 apartments and 27 commercial units across 13 multifamily buildings. The assets are located within Berlin’s S-Bahn ring, including neighborhoods such as Mitte, Friedrichshain-Kreuzberg, Tempelhof-Schöneberg and Neukölln.
The joint venture includes a €47 million ($56 million) investment to develop 75 new homes, along with a modernization program across the existing portfolio.
The properties were assembled and are managed by BlueRock. The assets are located in areas with limited housing supply and sustained rental demand.
“This transaction demonstrates how M&G can bring flexible and innovative capital solutions — including secondary trades and recapitalizations — to real estate projects, creating value for our global client base. By partnering with BlueRock, we will
