M&G Real Estate’s pan-European open-ended property fund has made its debut in the serviced apartment sector with the €73.5 million acquisition of two assets in Germany.
The €5.2 billion European Property Fund has forward-purchased two German assets, developed by local real estate firm Livory.
They comprise a newly refurbished 183-unit property in Berlin and a new development in Bielefeld, delivering 221 fully furnished apartments and a ground-floor retail unit.
Source: realassets.ipe.com on the 9th of July