LONDON | BERLIN – Blackstone’s European Core+ platform (“Blackstone”) announces the acquisition of a residential portfolio in Central Berlin from a joint venture which includes, among others, KauriCAB, Apeiron and Ailon.
The portfolio is principally comprised of 2,500 residential units located in Berlin, the majority of which are concentrated in the 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.”
Vojkan Brankovic, Chief Executive, Apeiron, said:
“This transaction is another significant deal for Apeiron and reflects the quality of this residential portfolio which we curated over the past few years in conjunction with our partners. The structural evolution of the German real estate market presents significant opportunities to deploy capital and secure strong returns for investors. We plan to bolster our position in the market through the opening off a new office in Munich and continuing to look for compelling investments across real estate asset classes.”
CBRE and Hengeler Mueller acted for Blackstone, and BNP Paribas and Greenberg Traurig advised the sell side.
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About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately $120 billion in investor capital under management. Blackstone’s real estate portfolio includes hotel, office, retail, industrial and residential properties in the US, Europe, Asia and Latin America. Major holdings include Invitation Homes (single family homes), Stuyvesant Town–Peter Cooper Village, Logicor (pan-European logistics) and prime office buildings in the world’s major cities.
Blackstone controls a portfolio of more than 100,000 residential units in Germany, Spain, Sweden and Denmark.
About Blackstone’s European Core+ Real Estate Strategy
Blackstone will be making this investment through its European Core+ real estate investment strategy, which targets substantially stabilized residential, office, logistics, and retail assets in high quality European geographies and gateway cities.
About Apeiron and Ailon
Apeiron and Ailon are associated real estate investment, development and asset management companies with operations in the UK, Germany and Nordic region, with offices in London and Stockholm. The groups focus on the residential and alternative residential segments and its property companies/platforms are owned together with capital partners, consisting primarily of leading pension funds, sovereign wealth funds, and financial institutions.
KauriCAB Management is a Berlin based investment and asset management specialist whose core business is the ownership and management of rental apartment buildings. The company provides a full in-house suite of services, including deal sourcing, acquisition, structuring, asset management, property management as well as architectural and construction services.