According to its own statements, the Swedish real estate group Heimstaden has acquired a portfolio with 126 residential units. The apartments are therefore largely in the Spandau district of Berlin. Eight buildings have changed hands, totaling approximately 9,600 square feet of rentable living space.
The package also includes 25 commercial units with around 3,000 square meters of space.
A smaller part of the portfolio is located in Potsdam. So far, Heimstaden has not been represented in the Brandenburg real estate market.
“We are pleased to be taking a first step on the Potsdam housing market with this purchase. We remain convinced of Berlin’s positive development, but we also believe in Brandenburg, its attractive capital Potsdam and the dynamism of the entire Berlin-Brandenburg capital region,” said David O’Brien, Head of Investment at Heimstaden Germany.
The deal is a share deal. This means that it is not the real estate itself that changes hands, but company shares.
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Heimstaden says it pays the full real estate transfer tax. However, the districts cannot exercise a right of first refusal in a share deal.
That is why the Senate has no means of enforcing concessions to tenants, for example. By the end of 2021, Heimstaden had already taken over 14,050 Berlin apartments from competitor Akelius in this way.