Greystar and PRIMUS establish new joint venture to deliver 800 rental homes in central Berlin
• Approximately €400 million total investment
• Expansion of strategic Berlin platform
• Developments in Kreuzberg and Prenzlauer Berg
Berlin, March 5, 2026 – Greystar, a global leader in the investment, development and management of high-quality rental housing, and PRIMUS Immobilien AG have formed a new joint venture to deliver more than 800 professionally managed rental apartments in Berlin’s Kreuzberg and Prenzlauer Berg districts. The total investment volume is approximately €400 million.
The new venture marks a significant expansion of the partners’ Berlin portfolio and underlines Greystar’s long-term commitment to increasing rental housing supply in the city center, where it is most needed.
Matthias Euler, Managing Director - Germany & Austria, Greystar, said: “Berlin continues to face a structural housing shortage. Addressing this challenge requires patient, long-term capital and experienced operators who can deliver at scale. Through our partnership with PRIMUS, we are accelerating the delivery of institutional-quality rental homes that will be professionally managed for the long term. Our objective is not only to build apartments, but to contribute to a more resilient and sustainable rental housing market.”
This transaction represents the third and fourth joint developments between Greystar and PRIMUS. The partnership began in early 2025 with the Berliner Straße 100 project. Upon completion of the new schemes, the joint portfolio will comprise approximately 1,400 apartments across central Berlin locations including Charlottenburg, Pankow, Kreuzberg and Prenzlauer Berg.
Sebastian Fischer, CEO of PRIMUS Immobilien AG, said: “Together with Greystar, we are building a forward-looking portfolio of modern rental apartments in Berlin. Demand for rental housing in central locations remains consistently strong, and we are proud to be contributing to solving the housing problem on this scale. As a Berlin-based company with over 30 years of history, we are taking on this responsibility. We intend to continue expanding this partnership through further acquisitions this year.”
David Neuhoff, CFO of PRIMUS Immobilien AG, added: “We are seeing increasing interest from core and core-plus investors in stabilised rental housing, while the pipeline of institutional-quality product remains limited. This joint venture positions us strongly to meet that demand.”
Within the partnership, PRIMUS contributes deep local market knowledge and extensive experience in complex urban development. Greystar brings global investment capacity and operational expertise as one of the world’s largest rental housing specialists with more than 1.1 million homes and student beds under management globally, including over 70,000 across eight European markets.
All units will be constructed to Efficiency House 40 standards and meet the requirements of the German Sustainable Building Quality Seal (QNG). The projects will incorporate sustainable construction methods, energy-efficient design and modern mobility concepts to support long-term environmental performance and resident wellbeing.