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Greystar, a global leader in the investment, development and management of rental apartments, and Berlin-based Primus Immobilien AG are further expanding their strategic partnership in the capital. With the establishment of another joint venture, the two companies are developing more than 800 new rental apartments at the Berlin locations in Kreuzberg and Prenzlauer Berg. The investment volume amounts to around 400 million euros.
With the new project, the two companies are significantly expanding their Berlin portfolio. At the same time, Greystar reaffirms its long-term goal of working closely with local stakeholders to create additional living space in the city centre, where it is most needed.
Matthias Euler, Managing Director Germany & Austria at Greystar, says: "Berlin continues to struggle with a structural housing shortage. Meeting this challenge requires patience, long-term investors and experienced operators who can build and manage on a large scale. Together with Primus, we want to drive forward the construction of high-quality rental apartments and provide them with professional support on a long-term basis. Our aim is not only to create more apartments, but also to make the rental housing market more resilient and sustainable at the same time."
This transaction represents the third and fourth joint project development between Greystar and Primus. The partnership began at the beginning of 2025 with the Berliner Straße 100 project. After completion, the joint portfolio will comprise around 1,400 apartments in central Berlin city center locations, including Charlottenburg, Pankow, Kreuzberg and Prenzlauer Berg.
"Together with Greystar, we are building a future-oriented portfolio of modern rental apartments in Berlin," explains Sebastian Fischer, CEO and shareholder of Primus Immobilien AG. "The demand for housing in central locations remains high and it makes us proud to contribute to solving the housing problem on this scale. As a Berlin-based company with over 30 years of company history, we accept this responsibility. We intend to expand this partnership through further acquisitions this year."
"We are seeing growing interest from core and core plus investors in investing in rental apartments, but still a thin pipeline of projects that will meet this demand. This joint venture puts us in a strong position to meet this demand," adds David Neuhoff, CFO and shareholder of Primus Immobilien AG.
As part of the partnership, Primus contributes in-depth knowledge of the Berlin market and many years of experience in complex urban development projects. Greystar complements this with global investment experience in the rental housing sector. The company manages more than 1.1 million apartments and student apartments, including over 70,000 in eight European markets.
The focus is on the construction of sustainable rental apartments. All units are designed according to the Efficiency House 40 standard and meet the requirements of the Sustainable Building Quality Seal (QNG). The projects rely on sustainable construction methods, energy-efficient design and modern mobility solutions in order to protect the environment in the long term and increase the quality of life of the residents.
