(Mark Your Calendars: RealShare Apartments 2011, October 20 in Los Angeles).

BERLIN-Pramerica Real Estate Investors has joined with Kauri CAB Management in a joint venture to acquire $173 million worth of multifamily properties here. The venture has already committed $34.7 million to purchase 13 properties with 325 units.

London-based Merchant Banking Group, a division of Pramerica, structured the investment on behalf of the Preco IV Fund. Pramerica, a subsidiary of Newark-based Prudential Financial Inc., has been investing in German properties since 2001.

According to a Pramerica statement, the venture will acquire and refurbish flats here, taking advantage of strong rental growth and a large number of available properties. Kauri CAB, formed in 2008 by Hagen Kahmann and Julian Brown, will handle the purchases and oversee day-to-day management.

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Kahmann says in the statement that the country’s recovering economy provides a stable investment environment in an area with a strong renting culture. “Cities such as Berlin, where levels of disposable income mean residential rents are still considerably lower than where they should be, have demonstrated clear demand and strong rental growth over recent years,” he says. His firm currently manages about $116 million of multifamily assets.

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