McDermott advises M&G Real Estate on forward deal of residential development in Berlin

McDermott Will & Schulte advised M&G Real Estate, on behalf of the M&G European Property Fund, on the acquisition of a €56 million development scheme in Berlin’s private rental housing sector by way of a forward deal.

Practical completion of the development is expected by the end of 2027. It will provide 145 new homes and is located close to the popular neighbourhoods of Prenzlauer Berg and Friedrichshain.

The building’s amenities will include heat pumps and smart metering technology. The building is targeting a BREEAM New Construction Excellent certification and an EPC A rating.

The scheme will be developed by Quarterback Immobilien AG.

M&G Real Estate is a leading global real estate platform with €40 billion in assets under management, offering clients access to a diversified range of equity and debt investment strategies across the risk spectrum, from core to value-add.

The McDermott team was led by real estate partners Jens Ortmanns, Thomas Beisken and included associates Alina Affeld, Maresa Rehder and Lene Niemeier