Swiss real estate investment manager launches residential program with global real estate multi-manager
Berlin (December 9, 2021) — The Swiss real estate investment manager BlueRock Group and BGO Strategic Capital Partners (“BGO SCP”), the multi-manager platform of the global real estate manager BentallGreenOak, jointly invested in a multi-family residential strategy in Berlin. BlueRock started accumulating a portfolio of 11 inner-ring residential buildings since the end of 2020. BGO SCP recently recapitalized the seed portfolio and provided further capital to continue accumulating similar assets alongside BlueRock and its fund investors. BlueRock’s acquisition, development and asset management teams located in Berlin and Zurich actively manage the current portfolio now comprised of 20 traditional buildings in the city center, totaling 548 residential units and a gross floor area of approximately 39,000 sq m. The program targets a total investment volume of 200 million euros.
Cherine Aboulzelof, Managing Director and Head of Europe at BGO SCP explains: " The fundamentals of the Berlin residential market continue to be strong and this transaction gives our investors exposure to one of the most liquid European residential market. We aim to invest with Managers with local sourcing and asset management expertise and support their growth plans: we are delighted to partner with the BlueRock Group in an already seeded and growing portfolio, as they have demonstrated on-the-ground sourcing, planning, and asset management expertise."
Ronny Pifko, Managing Director of the BlueRock Group adds: “The BlueRock Group has already expanded increasingly into Berlin last year and we aim at extending our presence in the capital city. We are pleased to have gained such a strong, international investor with BGO SCP, who sees the same potential in the city as we do.”
About BlueRock Group
The Swiss real estate investment boutique BlueRock Group offers active and passive investment strategies for family offices and institutional investors, among others. Operating throughout Europe, the company focuses on properties in Switzerland and Denmark but mainly on residential and office properties in Germany. The BlueRock Group has an extensive portfolio of high-quality properties in central locations in A- and B-cities, whose value increases are secured through appreciation and repositioning. At present, the company manages a portfolio of over €900m in Europe. Since its foundation in 2011, BlueRock Group has transacted a total volume of over €1.5 billion.
About BentallGreenOak Strategic Capital Partners
BGO Strategic Capital Partners is a market-leading, global multi-manager platform. Founded in 2002, BGO SCP invests across the full suite of multi-manager investment strategies, including primary commitments to funds, traditional and GP-led secondary transactions, recapitalizations and co-investments into direct assets. Investments are made through the BGO Secondaries and BGO Co-Investment fund series (closed-end) and custom separately managed accounts.
As of June 30, 2021, BGO SCP has invested with more than 130 managers across 280+ fund investments with exposure to more than 5,000 assets globally.
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