A Berlin family office has acquired a high-quality residential complex at Berliner Allee 170-172 in Berlin-Weißensee. In total, the real estate complex comprises 84 residential units and five commercial units on around 6,500 m² of rental space. The direct location to Lake Weissensee and the proximity to the centre make the location a preferred residential area in the capital. The seller of the property is the Domicil Real Estate Group, a real estate and investment house based in Munich, as part of an investment and asset management mandate. Savills acted exclusively as an intermediary and advisor to the seller throughout the transaction process. The purchase price was not disclosed.
"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 combination of direct proximity to the lake, short distances to the city centre and high local recreation value makes Weißensee a particularly sought-after residential area, especially for young families. At the same time, the strong demand on the tense Berlin rental housing market and the numerous new developments are ensuring a sustainable increase in the value of the location and the property," says Marco Högl, Director and Head of Residential Capital Markets at Savills.
