Blackstone has acquired a Berlin-based residential portfolio comprising 2,500 units from a joint venture led by KauriCAB Management GmbH and Apeiron/Ailon.
The majority of the portfolio is concentrated in prime inner-city districts, with additional units in Brandenburg and Magdeburg.
James Seppala, head of European real estate at Blackstone, said: “This acquisition is consistent with Blackstone Property Partners Europe’s strategy to acquire well-located residential properties in growth cities and to hold and manage them on a long-term basis on behalf of our investors.
“Berlin continues to benefit from strong demographic and economic trends, and we are excited by the opportunity to expand our German residential platform in one of Europe’s most dynamic cities.”
CBRE and Hengeler Mueller acted for Blackstone, and BNP Paribas and Greenberg Traurig advised KauriCAB Management GmbH and Apeiron/Ailon.
