The Empira Group, an investment manager for institutional real estate investments, has completed the acquisition of the “Bärenpark” residential quarter in Berlin-Tempelhof. The acquisition was made through a subsidiary of the Transition-to-Green fund, managed by Empira. Following the completion of the transaction, financing was realised with Bayerische Landesbank (BayernLB).
The listed ensemble, known in Berlin as “Bärensiedlung” (Bear Settlement), was built in 1931. It comprises a total of twelve multi-family buildings with 875 residential units. The quarter offers a rental area of approximately 48,000 square metres. It is characterised by its historic building structure and a park-like interior area.
Focus on Energy Development
As part of its Transition-to-Green strategy, Empira plans to specifically further develop the energy quality of the existing stock, taking into account monument protection requirements. A significant component of these measures is the planned conversion of the heat supply from gas to district heating. Further energy interventions will be examined in cooperation with specialist planners and the relevant monument protection authorities. Empira's Transition-to-Green strategy focuses on the acquisition of residential properties in German metropolitan regions that show optimisation potential in terms of energy efficiency. The aim is to improve the energy efficiency and long-term quality of the properties through targeted renovation measures and active asset and property management.
BayernLB as Financing Partner
BayernLB is supporting the acquisition of “Bärenpark” with financing amounting to EUR 62.5 million. Bernd Mayer, Head of Real Estate at BayernLB, stated that the financing accompanies the transformation of a historic Berlin residential quarter in line with the Empira Group's customer strategy and simultaneously strengthens the housing sector's existing commitment as well as the long-standing cooperation with the Empira Group. Empira thus continues its cooperation with established financing partners in implementing its residential real estate strategies.
Steffen Bartl, Managing Director and Head of Debt Solutions at Empira Group, emphasised that the financing underscores the attractiveness of high-quality residential properties in established metropolitan areas, particularly in conjunction with a clear energy development strategy. He highlighted the importance of BayernLB as a long-standing financing partner and expressed gratitude for the professional cooperation throughout the entire process.
