Reuters logo
CORRECTED-OFFICIAL-BlueRock to increase investment in Berlin real estate market
November 16, 2015 / 8:26 AM / 2 years ago

CORRECTED-OFFICIAL-BlueRock to increase investment in Berlin real estate market

(In fourth paragraph corrects second figure to 5,000 from 2,500 following clarification from company)

JERUSALEM, Nov 16 (Reuters) - Real estate investment fund BlueRock Fund said on Monday it invested another 40 million euros ($43 million) to acquire and renovate residential buildings in Berlin.

BlueRock, managed by a Swiss office but whose investors are mainly Israeli, has already invested more than 200 million euros to buy seven properties in Germany and Switzerland the past two years.

It noted that the fund was going on a road show with an intent to invest some 150 million euros to buy residential and office buildings in Germany in the coming year.

Following the renovations, the apartments in the building, to be bought at 2,000 to 5,000 euros per square meter in top neighbourhoods, will be sold and the fund will reinvest the profits, it added. ($1 = 0.9301 euros) (Reporting by Steven Scheer; Editing by David Holmes)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below