AEW seeks Berlin residential deals with €300m JV

London- and Paris-based AEW Europe is planning a €250m-€300m value-added residential investment programme over the next 12 to 18 months in Berlin via a joint venture with Caleus Capital Investors.

EPISO, the value-added and opportunistic fund co-advised by London and Paris-based firm AEW Europe and London-based Tristan Capital Partners, is to embark on an investment programme to invest up to €300 million in residential assets in Berlin.

Investing capital from the fund, AEW and Tristan will partner Berlin-based real estate investment firm Caleus Capital Investors as it seeks to invest the capital into residential assets in the city able to produce value-added returns.

The partners will specifically target assets with more than 250 units able to provide rental increases and refurbishment opportunities.

Caleus is run by Ulrich Weber and Patrick Reich, investors with more than 35 years experience in the Berlin market. The firm has typically invested capital alongside partners rather than on behalf of them.

Caleus’ subsidiary Caleus residential asset management will provide the partners with asset management and transaction services during the life of the venture.

AEW Europe, a subsidiary of Natixis Global Asset Management, alongside its US and Singapore affiliates, has approximately €31 billion in gross assets under management.