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Domicil Real Estate AG has successfully sold a residential complex in Berlin-Weißensee to a Berlin family office. The block sale took place as part of a long-term asset and portfolio management mandate in which the property was continuously developed. The purchase price was not disclosed.
The ensemble at Berliner Allee 170–172 was built in 1995 and comprises a total of 89 units, including 84 apartments and five commercial spaces. The approximately 6,500 m² of rental space is located in the immediate vicinity of Lake Weissensee and benefits from the urban qualities of the location: good connections, a wide range of local amenities and a pronounced demand for living space in the north-eastern Berlin urban area.
"In recent years, we have structurally developed the property through our asset management," says Stefan Fuchs, Managing Director of the Domicil Real Estate Group. "The sale that has now been realized is the result of this work and a carefully prepared exit strategy, which we were able to successfully conclude here together with the buyer. We have once again shown that professional asset management can leverage value and enable deals in a sensitive market environment."
The international brokerage firm Savills accompanied Domicil Real Estate AG throughout the entire sales process as exclusive agent and advisor.
