Corestate Group, through a joint venture partnership, has acquired a portfolio of 153 residential assets in Germany comprising more than 2,100 units. The properties, located in the Rhine Ruhr region of Germany, are valued at €85 million.

“We already have identified a number of key asset management initiatives where we can extract value from the portfolio, including necessary injections of investment to revitalise the assets in order to drive overall returns,” says Phillip Burns, CEO of Corestate.