JER Partners Sells Portfolio of 40 Properties in Europe

MCLEAN, Va., July 15 /PRNewswire/ -- JER Partners, a private commercial real estate investment management company, announced today that the European office of JER Partners, along with its joint venture partners, has sold a portfolio comprising 30 companies and 40 predominantly residential properties totaling approximately 165,600 sqm in Berlin, Germany. The portfolio was initially acquired by JER Partners and its joint venture partners between July 2005 and December 2005. The portfolio was sold to Corestate Group. The sale also included the assumption of the debt by the buyer.

JER Partners (JER) is a fully integrated private real estate investment management company with more than 29 years of experience in sourcing, underwriting and managing a broad spectrum of real estate equity investments and debt products in the U.S. and Europe.  Together with its financial and operating partners, JER has purchased and managed approximately 15,000 assets totaling $28 billion.  The firm also invests in CMBS, mezzanine financing and other structured debt products.  For more information, visit www.jer.com.

SOURCE JER Partners