Aviva Investors, Aviva PLC's globally operating asset management unit, has acquired a prime building plot in Berlin in cooperation with Amro Partners. A 454-bed student accommodation scheme is planned for this site. Amro Partners will take on the role of development and operating partner for this project.
The project is located in Berlin's Prenzlauer Berg district, an area known for its cultural diversity, historic architecture, and a variety of culinary offerings and green spaces. These factors contribute to the district's popularity among students. The location is characterised by excellent public transport links, including Berlin's extensive tram network, the S-Bahn Ring, and the U-Bahn, ensuring efficient access to Berlin's leading universities.
Facilities and Infrastructure
Upon completion, the residential project is intended to offer high-quality accommodation to future students. The offering will include furnished studio flats and shared apartments, each with its own bathroom and kitchenette. The complex will be complemented by extensive communal areas.
- —Lobby
- —Fitness centre
- —Study rooms
- —Cinema room
- —Green courtyard and terrace
Strategic Importance and Market Background
George Fraser-Harding, Head of European Real Estate Equity at Aviva Investors, stated that with this project, the company is expanding its German PBSA platform with Amro Partners. This underscores the continued commitment to providing student accommodation in a market with a structural shortage. Prenzlauer Berg was highlighted as one of Berlin's most dynamic and sought-after districts. Fraser-Harding expressed his conviction that this project is an example of an undertaking that will both provide high-quality accommodation and is predestined to generate investment returns for investors.
Raj Kotecha, Executive Chairman and CEO of Amro Partners, emphasised that the acquisition of the plot in Prenzlauer Berg represents a significant step in expanding their German PBSA strategy. He referred to the consistently high demand in Berlin, driven by the presence of top-tier universities, its attractiveness to international students, and the identified shortage of purpose-built student accommodation. Kotecha highlighted the deepening partnership with Aviva Investors, within which a portfolio of high-quality, sustainable properties in key university locations across Germany is being developed and operated.
