McDermott Will & Schulte, a global law firm

Düsseldorf, July 13, 2026 — McDermott Will & Schulte has advised M&G Real Estate on the acquisition of two serviced apartment properties in Berlin and Bielefeld, Germany. M&G Real Estate is acquiring the properties as part of a forward purchase for the M&G European Property Fund. The total transaction volume amounts to €73,5 million.

These two transactions mark M&G European Property Fund’s first strategic investment in the serviced apartment sector. The properties were developed by Livory, a German developer specializing in build-to-rent (BTR) and serviced apartments, and will both be leased for 20 years to Livory’s sister company smartments.

M&G Real Estate, headquartered in London, is a global real estate investor. With approximately 200 employees across offices in Asia and Europe, M&G Real Estate offers integrated services for fund management, asset management, and property management.

Livory Group GmbH is a leading real estate developer in the built-to-rent and serviced apartment sectors in Germany. With an annual development volume of over €200 million and more than 2,000 units.

The McDermott team was led by partners Thomas Beisken and Jens Ortmanns, and included partner Alexa Ningelgen, counsel Marcus Fischer, and associates Alina Affeld, Maresa Rehder, Lene Niemeier and Thomas Hintzen.

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