Pembroke acquires BTR development in Munich

International real estate firm Pembroke is expanding its global portfolio by acquiring a 16,500 m2 BTR development site at Alramstrasse 14 in southwest Munich, Germany. 

Pembroke’s investment team members, Ed Fryzer,  and Jack Clark, with Christian Bosiljanoff, Regional Director of Pembroke’s German team

This acquisition, just 4 kilometres from Pembroke's well-known Maximilianhöfe, is the fourth in the last 18 months, reflecting their strategy to diversify into residential, mixed-use, and office properties in major global cities. 
Pembroke is partnering with development manager ehret+klein to transform the vacant lot into a high-quality apartment complex with extensive amenities, addressing the housing shortage in Munich. The project will convert previously planned luxury condos into rental units. 
A key feature of the development is the return of the REWE grocery store to the neighborhood. 
Christian Bosiljanoff, senior regional director, Germany, said: “Pembroke has a proven track record in Munich of creating places that bring people together. We are thrilled to be working with development specialist, ehret+klein, to transform this abandoned site into the high-quality rental apartments that this neighborhood needs. We have the capital to immediately take responsibility and advance the work to make Alramstrasse 14 an accessible residential-led, mixed-use property.”
Michael Ehret, founder, ehret+klein, added: “We are delighted to have helped facilitate the acquisition and look forward to lending our expertise as a residential developer in Munich to leverage the urban potential of Alramstrasse 14, which has been untapped for many years. The original concept of a mixed-use development with residential, kindergarten, food retail, commercial space, and curated green spaces is being thoughtfully expanded, demonstrating our commitment to ensuring the property becomes an integral part of a vibrant neighborhood.”
Jack Clark, head of Investments at Pembroke, commented: “There is increasing demand for quality residential properties in the world’s leading cities. We are in a prime position to respond to this demand in Germany and globally, leveraging the strength of our capital and long-term perspective. “We have a strong appetite for more residential acquisition opportunities—both developmental and existing assets—and are focused on Munich, Hamburg, London, Seattle, Washington DC, Boston, Tokyo, Sydney, and Melbourne.”
Pembroke's acquisition of the Munich site signifies their growing commitment to the residential sector, following similar investments in Melbourne, Washington DC, and London. Their global portfolio now includes 520 operational rental apartments, with an additional 376 units under development in Munich and Melbourne. In Germany alone, Pembroke manages over 71,900 m2 of office and mixed-use space, including notable properties like Maximilianhöfe in Munich and Hamburg America Center in Hamburg. 
Pembroke received advisory services from GSK Stockmann during the acquisition. Legal counsel for ehret+klein was provided by Mariacher Rechtsanwälte in cooperation with Heussen Rechtsanwaltsgesellschaft. Grant Thornton advised the previous project owner, M-Concept, and Silverton Group provided advisory support throughout the entire transaction process.