EQT & Pictet acquire 477 homes near Berlin — European Living

EQT Real Estate, together with Pictet Alternative Advisors, has agreed to acquire a suburban residential estate in Mahlow on the southern fringe of Berlin. The portfolio comprises 17 buildings with 477 residential units, roughly 34,000 sqm of gross lettable area, 6 commercial units and 520 parking spaces, positioning it as a sizeable rental asset inside easy commuting distance to the capital.

The deal is being executed through EQT’s European Living platform and is framed as a value‑add residential investment. The Mahlow estate benefits from direct rail links to central Berlin and sits close to major infrastructure upgrades, including the transport corridors connected to Berlin Brandenburg Airport, a factor the buyers expect will support long‑term occupancy and rental stability.

Buyers highlight the structural imbalance between housing demand and supply across Germany’s metropolitan belts as the rationale for the acquisition. Berlin’s commuter belt has registered population and employment growth that is widening demand beyond the inner city; investors such as EQT Real Estate are targeting well‑located suburban stock where renovation and repositioning can lift yields and tenant quality.

Dave O’Brien, Director of German Living Strategies at EQT Real Estate, described the portfolio as a “compelling, well‑located platform” that offers upside through targeted modernisation and tenancy upgrades. Tom Livelli, Partner and Head of Living Strategies at EQT Real Estate, said the transaction mirrors the firm’s approach of aggregating suburban rental assets and converting them into purpose‑built, tenant‑focused homes.

Charles Legendre, Investment Manager – Multi Manager Real Estate at Pictet Alternative Advisors, emphasised the partnership angle: Pictet views the acquisition as a way to diversify client holdings across geography and the residential sector while addressing local housing needs with functional, well‑connected homes.

From an investor perspective, the purchase checks several boxes: institutional scale, immediate cashflow from a fully operational asset, and potential for value creation via refurbishment and leasing optimisation. Residential-for-rent strategies across Europe have attracted capital seeking inflation‑linked, defensive cash flows; Germany in particular has been a focus as new supply remains constrained in many urban regions.

The transaction team noted technical and tax due diligence were carried out by external advisers; legal, tax and technical advisors supported closing. For the market, the deal underscores continued appetite for large residential blocks near major cities and illustrates how pan‑European living strategies are being executed on a local level to capture both yield and longer‑term capital appreciation.