Meyer Bergman has entered the German residential market after acquiring a majority interest in an 800-home portfolio from a joint venture between Starwood Global Opportunity Fund XI, Stepstone Real Estate and Round Hill Capital.
The 775,000 sq ft portfolio is located in Frankfurt and also includes 125 commercial units.
It is the first acquisition the company has made in Frankfurt since 2002. According to Savills, Frankfurt’s population is forecast to increase by more than 5% between 2019 and 2023.
Meyer Bergman chief executive Marcus Meijer said: “Europe’s continued urbanisation, focused around a number of core city regions, will continue to drive demand for high-quality residential space, which remains supply-constrained in many markets.”
Starwood Capital Group, Stepstone Real Estate and Round Hill Capital were advised by Simmons & Simmons, E&Y and PwC.
Meyer Bergman was advised by Bögner, Hensel & Partner, CBRE, PwC, Arcadis and Loyensloeff.
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