Pan-European real estate investment manager Tristan Capital Partners has sold a residential property at Engeldamm 12–24 in Berlin-Kreuzberg. The transaction volume amounts to 37 million euros. BauMont Real Estate Capital acts as the buyer of the property. The asset previously belonged to the portfolio of the value-add fund EPISO 5, which is managed by Tristan Capital Partners.
The property on Engeldamm comprises three existing residential buildings as well as several undeveloped plots. These open spaces hold substantial potential for supplementary residential development and provide the new owner with corresponding expansion options in an inner-city location.
Infill development potential in Berlin-Kreuzberg
Earlier planning documents for the property at Engeldamm 12–24 already outline concrete measures for structural densification. According to these, the construction of 122 additional residential units is envisaged on the previously undeveloped land plots. Through this combination, the site brings together existing income streams from the three standing assets with prospects for new-build projects.
History and legal counsel
Tristan Capital Partners had secured the Kreuzberg property in 2020 for its EPISO 5 fund. The acquisition at the time took place as part of the complete takeover of the Berlin real estate company Industrie und Handel Aktiengesellschaft für Vermögensverwaltung.
In the current transaction, Tristan Capital Partners was advised by global law firm Clifford Chance. The legal team was led by partner Dr Philipp Stoecker from the real estate practice at the firm's Frankfurt office.
With the acquisition of the Engeldamm property, BauMont Real Estate Capital takes over a Berlin residential ensemble that, in addition to the three existing buildings, features space for infill development. The sale reflects market activity in the segment of large-scale residential investments with a development component in the federal capital.
- —Property: Engeldamm 12–24 in Berlin-Kreuzberg with three existing buildings
- —Purchase price: 37 million euros
- —Development potential: Previously planned construction of 122 additional residential units
- —Parties: Tristan Capital Partners (EPISO 5 fund) to BauMont Real Estate Capital
