Catella Residential Investment Management GmbH (CRIM) has acquired a total of 23 recently completed residential units and one commercial unit with 2,223 sqm of leasable space in the Weissensee district of Berlin’s Pankow borough. The portfolio was acquired on behalf of a single-client fund of a German insurer. The investment fund is managed by Institutional Investment Partners (2IP). The purchase price was €11.4m. The sellers were Danish private investors. CRIM will be responsible for the management of the fund’s residential portfolio. The building, completed in 2017, includes 12 underground car parking spots.
