The French fund Foncière des Régions plans to buy 2,735 housing units in Berlin through its German subsidiary Immeo. The cost of the deal is €348m. The portfolio belongs to Berlin IV A/S, which is listed on the Copenhagen Stock Exchange. Foncière des Régions owns 5.2 percent of the company’s shares and is now bidding for additional shares in order to control more than 90 percent of Berlin IV A/S. The properties, generating annual rental income of €16m, are situated mainly in Berlin, Neukölln, Friedrichshain-Kreuzberg and Tempelhof-Schöneberg. Some of the units will be privatized in 2017.
