MB Advisors, an investment and asset management company based in Berlin and Manchester, has acquired two residential and commercial buildings in Berlin’s Neukölln district for the BlueRock Group. The sellers were private individuals.
The two five-storey properties in Berlin’s trendy Neukölln district were built in 1908 and 1910. The first property has around 1,200 square metres of rental space, spread over 29 residential and three commercial units. The second building dates from 1910 and comprises 27 residential and four commercial units on a total of around 1,100 square metres of rental space.
MB Advisors was responsible for the identification, technical and economic review as well as the structuring of the transactions. Asset management will also be handled by the company. Engel & Völkers Commercial Berlin was involved as a consulting brokerage house.
MB Advisors is providing long-term support to the BlueRock Group in building up a value-add-oriented residential real estate portfolio in Berlin and, after the acquisition, will take over the active asset management of the acquired properties.
