- Acquisition gives private investors the opportunity to participate in the sought-after Berlin market
- Asset offers more than 35,000 square metres of lettable space and is almost fully let
PATRIZIA Immobilien AG has acquired the mixed-use property ‘Forum Landsberger Allee’ in Berlin on behalf of a private investors’ fund managed by PATRIZIA GrundInvest. This investment, located in the city’s Prenzlauer Berg district, offers private investors the opportunity to participate in the attractive development of the property market in Berlin. The purchase price has not been disclosed.
Commenting on the acquisition, Daniel Dreyer, Head of Acquisitions Commercial at PATRIZIA, said: “We have been able to identify and acquire this core property in the growing and globally sought-after metropolis. The asset, with its diverse user mix of offices, practices, hotels, hostels and retail, is a very attractive proposition for private investors looking to invest in one of Germany’s most liquid cities.”
The Forum Landsberger Allee was built in 1996 and underwent further expansion in 2015. Offering more than 35,000 sq m of lettable space, the building is almost fully let to tenants including major German retail brands such as Rewe and the drugstore chain dm. The 469-space parking garage was recently completely renovated while the close proximity to the S-Bahn station Landsberger Allee of the Berlin Ringbahn, tram and bus stops means it is well-connected to public transport.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across Europe for more than 30 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global provider of real estate investments in Europe, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. PATRIZIA manages almost EUR 40 billion of real estate assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit: www.patrizia.ag.