Kadens Capital and Athanor Urban Partners expand Berlin resi portfolio

Frankfurt-based real estate private equity firm Kadens Capital and its Berlin-based affiliate, Athanor Urban Partners, have purchased a collection of residential properties in Berlin for an institutional investor. 

Berlin

Kadens and Athanor, along with their property management company VeriDomo, were responsible for finding and will manage these assets. Athanor leverages Kadens Capital's investment and capital markets expertise to operate as a comprehensive asset management platform.
The initial portfolio consists of four separate acquisitions located in desirable areas of Berlin. These properties offer opportunities to increase their value through active management and renovations focused on improving sustainability and meeting ESG standards. 
The joint venture received advice from DLA Piper for legal matters and Agradblue for ESG considerations, and they plan to expand the portfolio through further acquisitions.
Together, Kadens and Athanor now manage a Berlin residential portfolio valued at around €500 mln, supported by various institutional investors and family offices.
Lars Oldenburg, principal at Kadens Capital, commented: “Over the last few years, we have built a vertically integrated set-up together with our platform companies Athanor and VeriDomo. The continued growth of our assets under management in Berlin is a testament to the positive feedback we receive from our investors and a great example for the benefits of our PropCo/OpCo investment strategy."
Ali M. Asefoglu, founding partner of Athanor and VeriDomo, added: “The current market cycle offers a unique opportunity for us as a specialised operating partner with a strong on-the-ground network. Our clear focus is on densification and upgrading of ageing residential stock through targeted ESG measures to improve energy performance and tenant comfort."