Apeiron Capital, the London-headquartered real estate investment firm, has upped its target for German residential to €1 billion after receiving additional investor backing.
The privately-owned investment manager originally planned to deploy €300 million in partnership with Berlin-based property company Kauri and an unnamed sovereign wealth fund through a joint venture structure it launched in December 2014.
The joint venture has so far acquired four residential portfolios in Berlin, comprising of more than 2,500 apartments, for a combined cost of €230 million. But, after securing additional funding from new institutional and private investors from the Middle East and Asia, Apeiron has increased its investing target to €1 billion. The target is a combination of equity and debt.
“With four successful acquisitions made in the last 12 months we are quickly closing in on our initial portfolio target of €300 million,” Vojkan Brankovic, chief executive of Apeiron, commented.
“This coupled with the strong rental and capital value growth continuing to underpin the Berlin residential market, means that we are well placed to deliver long-term stable returns for our capital partners and principals.”
Apeiron is a privately held principal investment and asset management firm dedicated to real estate opportunities in the UK, Germany and the Nordic region, with offices in London, Berlin and Stockholm. Investments are made through independent, specialized platforms owned by Aperion and its capital partners.