Real estate private equity firm Kadens Capital and its subsidiary Athanor Urban Partners, a Berlin-based investment and asset manager, have acquired a portfolio of residential properties in Berlin for an institutional investor.
The properties were acquired by Kadens/Athanor and will be managed in cooperation with their internal property management company VeriDomo in the future. Supported by Kadens Capital’s investment management and capital markets expertise, Athanor acts as a vertically integrated asset manager covering the entire value chain. The joint venture was advised by DLA Piper and Agradblue and aims to grow the portfolio over time through further acquisitions.
The start-up portfolio was acquired through four individual acquisitions in sought-after micro-locations. The properties offer solid value appreciation potential through active asset management and targeted modernization measures to improve sustainability and meet modern ESG standards.
Together, Kadens and Athanor now manage a Berlin residential real estate portfolio with a total value of around EUR 500 million on behalf of various institutional investors and family offices.
Lars Oldenburg, Principal at Kadens Capital, comments: “In recent years, we have built a vertically integrated structure together with our platform companies Athanor and VeriDomo. The continued growth of our portfolio in Berlin is a consequence of the positive feedback we receive from our investors and a good example of the benefits of our PropCo/OpCo investment strategy.”
Ali M. Asefoglu, founding partner of Athanor and VeriDomo, adds: “The current market cycle offers us a unique opportunity as a specialized operating partner with a strong local network. Our clear focus is on densifying and modernising ageing residential properties through targeted ESG measures to improve energy efficiency.”
