Sought and found in Berlin
A portfolio with a total of 670 residential apartments and 7 commercial units is changing hands - a successful transaction
Berlin urban area
portfolio with 7 residential complexes
49,000 sqm lettable area
All the properties in the CARUS Portfolio comprising 670 apartments and 7 commercial units are located in western Berlin, from the district of Wilmersdorf to Zehlendorf and Rudow. They occupy 7 different locations, all in traditional and established districts within the German capital, where the significant population growth combined with dynamic economic development continues to drive the high level of demand in the residential property market. The buildings are very well maintained and well managed, they are similar in type and there is very little vacancy. In short, this is a highly sought-after investment comprising an attractive portfolio lot size which is being sold by the majority shareholder CARISTO Management GmbH.
Portfolio on the lookout for the right buyer
JLL was exclusively instructed to offer the CARUS Portfolio for sale. We advised and supported our client throughout every phase of the project, from marketing to notarisation. The mandate was to conclude the transaction in the form of an asset deal based on a structured bid process.
All portfolio properties were constructed as part of the subsidised residential building programme, most properties were built after 1996. Our marketing exercise was a great success. A large number of national and international investors showed interest in the attractive capital city package and submitted indicative offers. In the end, the deal was awarded to an established and reliable company active in the German residential market.
Sale to a traditional and reliable company
"At the end of the process, both the seller and the purchaser were equally delighted with the successful transaction.”
Wohnbau GmbH is a traditional company owned by the charitable trust Stiftung Wohnhilfe, for which the purchase serves as a continuation of its acquisition strategy. The company focuses on its own core locations with the objective of long-term hold and creating value, as well as socially responsible development.
At the conclusion of a transparent process, the CARUS Portfolio was transferred to the ownership of Wohnbau GmbH on 1st March 2019. Both the seller and the purchaser are proud of the mutually successful transaction, which was processed smoothly and satisfactorily with the support of JLL.