Schroders transacts landmark asset in the heart of Berlin
Schroder Real Estate has acquired the Königstadt Carree at Berlin’s Alexanderplatz on behalf of an institutional investor partnership. The €100 million landmark asset located in central Berlin was constructed in 2011/2012 and comprises a 21-storey tower with ca. 26,000 sq m of office space and an eight-story hotel.
The modern office tower is currently let to multiple tenants, anchored by Mercedes-Benz Bank, on the basis of a long-term lease, and an adjoining hotel. The high technical specification, three storey carpark, flexible office space and high energy efficiency further underline the asset’s quality. The property is located directly at the iconic Alexanderplatz between the sought-after neighbourhoods of Mitte, Prenzlauer Berg and Friedrichshain. The area features a dynamic real estate market and benefits from a broad retail and leisure offer as well as bars and restaurants.
Sascha Harms, Head of Real Estate Investment Germany, Schroder Real Estate commented:
“The Königstadt Carree offers a rare combination of high build quality, solid lease structure and an excellent micro and macro location. Berlin is one of Europe’s fastest growing metropolitan areas. This, in combination with its prominent city centre location makes this asset a very compelling and sustainable investment for our investors. The investment is entirely consistent with our strategy to invest in European growth cities and regions.”
“The acquisition of the Königstadt Carree is another important milestone for Schroder Real Estate, proving again our ability to secure extremely sought-after assets, which enabled us to secure this prime asset in one of Europe’s most targeted investment location.”
Following the purchase of the Bosch Areal in Stuttgart, the Königstadt Carree is the second landmark acquisition in Germany in 2015. This transaction marks Schroders continuing success in investing in leading European markets and further boosts its exposure to high quality assets in prime locations.
Philipp Ellebracht, Chairman of the Board of Schroder Real Estate Germany, commented:
“The asset has been acquired in strategic partnerships with our clients. We have invested in this format in other European markets before and it represents a growth area for Schroders.”
Schroders was advised by Cushman Wakefield and KWM.
For further information, please contact:
Estelle Bibby, Senior PR Manager
Tel: +44 (0)20 7658 email@example.com
Notes to Editors
For trade press only. To view the latest press releases from Schroders visit: http://ir.schroders.com/media
Schroder Real Estate Schroder Real Estate
Schroders has managed real estate funds since 1971 and currently has £12.4 billion[i] (€16.8 billion /US$18.7 billion) of gross real estate assets under management as at 30 September 2015.
Most of the property funds referred to are unauthorised collective investment schemes as defined in the Financial Services and Markets Act 2000. Promotion of these funds is restricted and access to full information about these funds is only available to those exempt from the restriction.
For further information about Schroders’ property business visit www.schroders.com/realestate
Schroders is a global asset management company with £294.8 billion (EUR 400.0 billion/$446.5 billion) under management as at 30 September 2015. Our clients are major financial institutions including pension funds, banks and insurance companies, local and public authorities, governments, charities, high net worth individuals and retail investors.
With one of the largest networks of offices of any dedicated asset management company, we operate from 37 offices in 27 countries across Europe, the Americas, Asia and the Middle East. Schroders has developed under stable ownership for over 200 years and long-term thinking governs our approach to investing, building client relationships and growing our business.
Further information about Schroders can be found at www.schroders.com.
Issued by Schroder Investment Management Ltd, which is authorised and regulated by the Financial Conduct Authority. For regular updates by e-mail please register online at www.schroders.com for our alerting service.
[i]Includes holdings of Real Estate Capital Partners and Schroders Multi-asset Funds in the Real Estate AUM