M&G Real Estate, has acquired two residential properties in Germany and Portugal on behalf of the €600 million M&G European Living Property strategy, launched in January this year. These new acquisitions align with the fund’s principle to invest in high quality properties.
In central Berlin, standing residential building for €36.5 million in an off market deal. Located at Park am Gleisdreieck and split across 7 floors, the building offers 67 private rented apartments, 48 of which at open market rent. The property includes 19 subsidised apartments which are fully let, providing more affordable housing in Germany’s second most expensive city.
In Lisbon, purpose-built student accommodation development for €35 million. The scheme will offer 333 beds, split into 315 single studios and 9 twodios, in the Olaias district within walking distance from Instituto Superior Técnico Lisboa, a Portuguese engineering university.
Source: mandg.com on the 5th of October 2023
https://www.mandg.com/news-and-media/press-releases/mandg-investments/2023/05-10-2023