Peakside sells out of Berlin complex

Roger Barris’ company Peakside Capital has sold its majority stake in a Berlin residential complex, worth €24.5m. TAG Immobilien bought  the holding, which was held indirectly by the €261m Peakside Real Estate Fund I.

The fund inherited the asset after a management buyout of Bank of America Merrill Lynch’s European private equity real estate business in September. BoAML bought the building in 2007 from a German bank as a non-performing loan and worked with asset manager Wertgrund Immobilien to increase the rents and income.