M&G Real Estate has recapitalised a Berlin residential portfolio through a joint venture with BlueRock Group, set to deliver some 75 new homes in the centre of the city, alongside some 302 apartments and 27 commercial units subject to modernisation.
With some 13 multi-family buildings within the city’s S-Bahn ring, the neighbourhoods such as Mitte, Friedrichshain‑Kreuzberg, Tempelhof‑Schöneberg and Neukölln are in areas where demand for rental housing consistently outstrips supply, M&G noted.
Peter Riley, head of Capital Partnerships, M&G Real Estate, commented: “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, commented: “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.”
M&G Real Estate is part of the M&G Investments €90bn private markets business, which also invests in infrastructure, private credit, private equity and impact strategies. Its Capital Partnerships capability works with global institutional investors to tailor mandates and align capital to scale opportunities.
