Acquired through the partners' joint venture from BME Group for approximately €14 million, the plot is at Lützowstrasse 74 in Berlin's Tiergarten district, between Potsdamer Platz and City West.

The partners plan around 350 student apartments for completion in 2029, with the planning prerequisites already in place. The site forms part of the initial Frankfurt and Berlin pipeline secured by J.P. Morgan Asset Management and i Live, which comprises approximately 1,000 beds across the two cities.

Cushman & Wakefield brokered the sale, while Hogan Lovells advised J.P. Morgan Asset Management and K&L Gates advised BME Group.

Strategic context

The purchase moves the joint venture from platform formation to site-level execution in Germany's largest university city. A central Berlin project adds exposure to a supply-constrained market and supports the partners' goal of developing a €1.5 billion PBSA portfolio in major German university locations.

For J.P. Morgan Asset Management, the transaction advances its European managed living strategy; for i Live, it creates another route to scale its operating brand with institutional capital.

Redeveloping an established commercial site also links new student housing supply with urban regeneration.

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