Real estate investment manager Optimum Asset Management has completed an off-market acquisition of a 1,191 sqm rental property in Berlin, through its German Real Estate Fund IV (GREF IV).
The fund is the fourth iteration in a series of strong performing German real estate funds pursuing both residential and commercial properties in the range of €5 – €40 million.
Built in 1910 and partially modernized in 2017-2018, the acquired property is an excellent addition to Optimum’s expanding portfolio. Consisting of 22 residential apartments and 2 retail spaces, with excellent transport links only 350 metres away from the U-Bahn station Hermannplatz, the property is ideal for renters. More so, the Reuterkiez district of Neukölln is a hub for creatives, students, and expats, with significant developments underway that will further increase the quality of the surrounding area, including a 7000 sqm public space.
The GREF IV fund targets a total size of €350 million, with the primary target area being Berlin with selected investments in Germany’s highgrowth, supply-constrained cities such as Berlin, Hamburg, Dresden, Leipzig, Cologne, and Düsseldorf.
Alberto Matta, Chairman and Founder at Optimum Asset Management, said: “The acquisition is a reminder of the strength of Berlin’s unique rental market. The continued improvement and urbanisation of major cities across the country creates attractive opportunities for residential investment. Berlin has seen significant inflow of investment to improve both urban and suburban regions. This, combined with a continued supply demand imbalance due to the growing population in major German cities, means we continue to see the significant opportunity to create value in this market.”
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