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The real estate investment and asset manager N A S Invest acquired the new-build construction project “Spreeturm” in Berlin within the framework of an off-market transaction. The property was sold by DWI Group in Hamburg.
Spreetum, a 20-storey office high-rise, is located inside the new Mediaspree urban quarter in the immediate vicinity of the Ostbahnhof railway station and the historic Postbahnhof mail railway terminal building. On a gross lettable area of about 13,500 square metres, the property will provide highly presentable office accommodation that will lend itself to flexible use, supplemented by restaurant units on the ground floor plus car parking spots and storage areas in the basement. The building is scheduled to be completed in the course of 2020. It is planned to obtain an LEED Gold certification for it.
Spreeturm will be the urban-planning landmark of the entire area. On a footprint of around 180 hectares in a downtown location on both banks of the River Spree between the Ostbahnhof station and Warschauer Strasse, a modern mixed purpose quarter is under development that will include the use types business, residential, gastronomy, retail and leisure. Resident companies of the Mediaspree quarter include BASF, Zalando, Daimler, Coca-Cola and Universal Music, among others.
“The off-market transaction demonstrates that we have the network and know-how it takes to handle large-scale landmark deals in the institutional context. The recently completed effort to reposition our group of companies plausibly continues our strategy of capital-intensive investments,” added Oliver Zimper, Co-CEO, CIO and Managing Partner of N A S Invest.
“The Spreeturm property is to feature a modern fit-out that will permit flexible use options. As it is located in one of the most popular micro-environments, it will fill a major gap in Berlin’s office real estate market. This is a market virtually swept clean while an enormous demand for high-quality office accommodation persists. Against the background of steadily rising prime rents, Spreeturm offers sustainable rental upside potential,” said Nikolai Dëus-von Homeyer, Co-CEO, COO and Managing Partner of N A S Invest.
The buyer was advised by Gleiss Lutz & Arcadis, whereas counsel to the seller side was provided by BNP Paribas Real Estate and Neuwerk Rechtsanwälte.
As an investor and asset manager with long-term experience, N A S Invest structures and manages real estate investments for its own account as well as for co-investing institutional and private investors. To this end, the company, which maintains branch offices in Berlin, Frankfurt, Luxembourg and Zurich, concentrates on commercial and residential real estate in German metro regions and major cities with positive economic and demographic fundamentals. Real estate assets under the company’s management to date add up to more than 30 billion euros worth of commercial and residential properties in Europe.
Source : Company