MB Advisors acquires three residential and commercial buildings in Berlin for BlueRock Group
MB Advisors, an investment and asset management company based in Berlin and Manchester, has acquired three residential and commercial buildings in Berlin on behalf of the BlueRock Group, Zurich. Two of the five-storey properties are located in the Charlottenburg district, another in Friedrichshain. The sellers were private investors. The total purchase price is in the lower double-digit million euro range.
The acquisition process was fully taken over and managed by MB Advisors, including sourcing, due diligence and transaction management. The company will also receive the mandate from BlueRock Group for the asset management of the three properties.
The properties in Berlin-Charlottenburg are, on the one hand, a residential building from 1916 with 27 residential and two commercial units. The total lettable area is around 1,800 square metres.
The second Charlottenburg property also comprises around 1,800 square metres of rental space, divided into 22 apartments and three commercial spaces. Allgemeine Immobilien-Börse GmbH advised MB Advisors on the purchase of the house from the late Wilhelminian period.
In addition, a building built in 1900 with 16 residential units and two commercial rental spaces with a total of around 2,100 square metres was acquired in Berlin-Friedrichshain. Engel & Völkers Commercial provided support as a brokerage company.
MB Advisors acts as a local partner of the BlueRock Group in the establishment and expansion of a value-add-oriented residential real estate portfolio in Berlin. Following the successful acquisition, the company will take over active asset management for the acquired properties.
