The Empira Group, a leading investment manager specialising in institutional property investments, has successfully completed the acquisition of the “Bärenpark” residential development in Berlin-Tempelhof. The acquisition was carried out through a subsidiary of the Transition-to-Green Fund, which is managed by Empira. Following the completion of the transaction, the financing arrangement with BayernLB (Bayerische Landesbank) has now also been finalised.
The listed complex, also known in Berlin as the ‘Bärensiedlung’, was built in 1931 and comprises twelve blocks of flats with a total of 875 flats. The estate has around 48,000 square metres of rental space and is characterised by its cohesive historic development and a spacious, park-like central area.
Energy-efficiency upgrades to a historic residential neighbourhood
As part of its ‘Transition to Green’ strategy, Empira plans to systematically improve the energy efficiency of its property portfolio whilst taking into account the requirements of heritage protection legislation. A key element of this is the planned switch from gas to district heating. Further energy-efficiency measures will be assessed in due course in collaboration with specialist planners and in consultation with the relevant heritage protection authorities.
Empira’s ‘Transition to Green’ strategy focuses on the acquisition of residential properties in German metropolitan regions with potential for energy optimisation. The strategy centres on targeted energy-efficiency refurbishment measures and active asset and property management, with the aim of improving the energy efficiency and long-term quality of the properties.
BayernLB supports the acquisition as a financing partner
“By financing the Bärenpark project, we are supporting the transformation of a historic Berlin residential neighbourhood in line with our client Empira’s strategy, whilst at the same time strengthening our commitment to the residential property portfolio and our long-standing partnership with the Empira Group,” says Bernd Mayer, Head of Real Estate at BayernLB.
BayernLB is supporting the acquisition of the Bärenpark with financing of 62.5 million euros. Empira is thus continuing its collaboration with established financing partners in the implementation of its residential property strategies.
Steffen Bartl, Managing Director and Head of Debt Solutions at the Empira Group, says:
“The financing of the Bärenpark highlights the appeal of financing high-quality residential properties in established metropolitan locations, particularly when these are linked to a clear energy efficiency improvement strategy. We are delighted to have BayernLB, a strong and long-standing financing partner, at our side, and would like to thank the whole team for their professional and trusting cooperation throughout the entire process.”
