M&G Real Estate and BlueRock to expand Berlin resi portfolio

M&G Real Estate has recapitalised a residential portfolio in central Berlin through a new joint venture with BlueRock Group. 

Berlin

This partnership aims to provide high-quality housing in Berlin's undersupplied market and deliver strong returns for investors.
The portfolio, previously managed by BlueRock, consists of 302 apartments and 27 commercial units across 13 multi-family buildings within Berlin's S-Bahn ring, located in desirable neighbourhoods like Mitte, Friedrichshain Kreuzberg, Tempelhof Schöneberg and Neukölln. 
A €47 mln investment is planned to develop 75 new homes and comprehensively modernise the existing properties, addressing the high demand for rental housing in these areas.
Peter Riley, head of Capital Partnerships, M&G Real Estate, said: “This transaction demonstrates how M&G can bring flexible and innovative capital solutions — including secondary trades and recapitalisations — to real estate projects, creating value for our global client base. By partnering with BlueRock, we will further create additional upgraded living space whilst also helping to address Berlin’s ongoing housing pressures.”
Ronny Pifko, CEO of Bluerock, added: “Through this partnership with M&G, we are gaining an experienced and internationally respected partner who shares our passion for the German Capital and our commitment to quality, responsibility and value creation. This collaboration underlines the attractiveness of our platform for institutional investors.”