MB Advisors, a Berlin- and Manchester-based investment and asset management firm, has acquired three residential and mixed-use properties in Berlin on behalf of Zurich-based BlueRock Group. The assets are located in the districts of Wedding, Mitte and Schöneberg and were purchased from private owners.
MB Advisors managed the entire acquisition process, including deal sourcing, due diligence and transaction execution. The firm will also take over ongoing asset management responsibilities for the properties.
One of the acquisitions is a residential building in Berlin-Wedding, originally constructed in 1900, comprising 27 apartments and three ground-floor commercial units. The property offers a total lettable area of approximately 2,350 sq m. Michael Schick Immobilien acted as the broker on the transaction.
In Berlin-Mitte, MB Advisors acquired a residential and commercial building dating from 1904, which includes 32 residential units and two commercial units. The total rental area of the property is around 2,100 sq m, with Krossa & Co. Immobilien advising on the transaction.
The third asset is located in the Schöneberg district and was built in 1903. It comprises 28 residential units and one commercial unit, with a total lettable area of approximately 2,430 sq m. Büttner Immobilien-Management provided advisory services.
According to MB Advisors, the acquisitions form part of a longer-term strategy to build a Berlin-focused residential portfolio with value-add potential for BlueRock Group. MB Advisors will remain responsible for the active management of the assets going forward.