Sweden’s Akelius continues to build up German holdings

Akelius Berlin GmbH, a subsidiary of Swedish housing investor Akelius Fastigheter AB, has been steadily buying residential assets throughout the German capital, and struck again earlier this month when it bought a further 449 apartments and 17 commercial units in 19 separate properties in the city.

The assets have a total lettable space of 31,000 sqm, of which around 2,000 sqm is commercial space, mainly in the area north of the Neukölln district. The deal, which was accompanied by Esplanade Immobilienberatung, brings to a total of more than €60m the group has invested this year in Berlin, and brings its Berlin holdings to 7,600 residential units.

Akelius now owns more than 15,000 residential units and says it plans to invest a further €250m across Germany by the end of the year. Target market are Berlin, Düsseldorf, Frankfurt am Main, Hamburg, Cologne, Munich and Stuttgart.