Domicil Real Estate AG, in a joint venture with its new majority shareholder Baywobau, has successfully acquired a residential complex situated in Berlin’s Treptow-Köpenick district. The transaction was structured as an asset deal and involves a property intended for the sale of individual units to private investors.

The complex is located in the Altglienicke area of Berlin and comprises 18 buildings. It offers a total of 143 residential units and 75 parking spaces. The properties, which are almost fully let, have a combined floor area of 11,343 square meters. Built in 1996, the buildings are three to four storeys tall, and the apartments have an average size of 79 square meters.

The residential complex has already been subdivided in accordance with the German Condominium Act (WEG) and is slated for individual sale in the near future. The companies noted that extensive maintenance work had been carried out in recent years, including comprehensive refurbishment of the roofs and façades, as well as a complete replacement of all windows.

Commenting on the acquisition, Daniel Preis, Co-CEO and CSO of Domicil Real Estate AG, stated, “The demand from private investors for residential real estate for retirement planning is immense. With this joint acquisition with Baywobau, we are demonstrating our ability to meet the demand for low-risk, easily rentable residential properties. Our sales pipeline is robust, and further acquisitions are already in the planning stages.”

David Hofmann, Managing Partner of Baywobau, who also joined the Management Board as CDO of Domicil Real Estate AG in October, added, “For us, this is a very satisfactory start. We are seeing increasing demand for residential real estate as an investment and are now relying on Domicil’s strong sales network to make the apartments available to small investors.”

The seller of the property was a family office based in southern Germany. JLL acted as the broker for the transaction. The legal counsel for Domicil Real Estate Group was provided by Osborne Clarke, led by Dr. Mareike E. Klopp and Heiko Petzold. The legal advisor for the seller was BCLP Bryan Cave Leighton Paisner. BPS Stoessel served as the technical partner.