PRIMUS and Greystar establish a joint venture
PRIMUS and Greystar establish a joint venture for sustainable rental housing construction in Berlin
Berlin, March 27, 2025 – Greystar Real Estate Partners, LLC (Greystar), a global leader in investment, development, and management of high-quality rental properties, and PRIMUS Immobilien AG (PRIMUS), an experienced Berlin-based project developer, have formed a joint venture. The partnership aims to develop and realize sustainable rental housing projects.
“Berlin needs new housing – and it must meet the highest standards of quality and sustainability. Together with our experienced partner PRIMUS from the capital, we are addressing this need by creating future-proof rental homes,” says Jan Salzmann, Senior Director Germany at Greystar.
Focus on Urban Locations with Potential
The joint venture will acquire land in Berlin for its projects, focusing on sites with strong infrastructure and public transport connections that offer development potential of at least 8,000 square meters of residential space. The primary focus will be traditional rental housing developments that incorporate both ecological and social sustainability.
“With the establishment of this joint venture, we are taking a decisive step to expand our strategy in rental housing development. This partnership with a global market leader enables us to realize modern housing concepts in Berlin and meet the high demand for rental apartments,” says David Neuhoff, CFO & Shareholder of PRIMUS.
Sebastian Fischer, CEO & Shareholder of PRIMUS, adds: “The merger of our two companies aims to achieve the highest standards in the areas of Environment, Social, and Governance (ESG). Therefore, we are striving for certifications such as DGNB Gold, WiredScore, and Good Mobility for our projects. This ensures that they are not only of high quality but also forward-thinking and responsible.”
A first joint seed deal is currently in the planning stage. Additional projects are already in the pipeline.
About Greystar
Greystar is a leading, fully integrated global real estate company with expertise in property management, investment management, project development, and construction services. The company specializes in institutional-quality rental housing as well as the logistics and life sciences sectors. Greystar is headquartered in Charleston, South Carolina. Worldwide, the company manages real estate worth over $315 billion across approximately 250 markets, with offices in North America, Europe, South America, and the Asia-Pacific region.
Greystar stands for integrity, outstanding results, and a consistent commitment to acting in the best interest of all stakeholders. The company is the largest operator of rental housing in the United States and manages over 1,000,000 units/bed spaces globally. Additionally, Greystar has a strong institutional investment management platform, with assets under management exceeding $78 billion, including $36 billion in development projects.
Greystar was founded in 1993 by Bob Faith to provide premium services in the rental housing sector. For more information, visit www.greystar.com.
About PRIMUS Immobilien AG
PRIMUS Immobilien AG is a leading real estate developer specializing in high-quality residential, office, and hospitality properties. The team’s ambition is to create architecturally sophisticated buildings driven by a spirit of innovation. Since 1993, PRIMUS has combined aesthetics with sustainability, constructing timeless buildings in prime locations with superior quality.
To date, PRIMUS remains owner-managed and has evolved into a fully integrated real estate platform, consisting of a development and architecture team, an investment and financing team, as well as long-term relationships with partners and construction companies.
With over 30 years of experience, PRIMUS has built an excellent track record and realized diverse projects across the residential, office, and hospitality sectors. The current portfolio includes nine projects in Berlin, with a gross development value (GDV) of approximately €1 billion.
The company’s strong positioning is further enhanced by its partnership with a single family office as a shareholder. As a result, PRIMUS stands for top-tier expertise and unique architecture.
Here you can download the complete press release as a PDF document.