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Northern Horizon acquired value-add office building in Berlin

The German „Hansa“ Fund of Northern Horizon Group has acquired a property in Berlin-Marienfelde in an off-market deal

The multi-tenant office building is located in Trachenbergring in Berlin-Marienfelde within a mixed commercial/residential area in the district of Tempelhof-Schöneberg. The multifunctional office building has space to host up to 30 tenants. It has 70 parking spots in an underground parking garage and 74 parking spots outside the building. The building has been acquired in an off-market deal.

The property was initially built in 1992 by Sony and used for themselves. The rentable space is approx. 8.770 sqm and has material value-add potential. The acquisition price is approximately EUR 18 million.

“We have acquired this property in line with the fund’s strategic focus on the commercial core+ and value-added sector with strong preferences for office“, says Georg Haider, the German Country Head of Northern Horizon. “For the next years we are planning several technical investments and other refurbishments which will enhance the building as an attractive business address for current and new tenants, as well as showing attractive returns for our investors”, mentioned Senior Asset Manager Stefanie Taubert.

“Due to recent disposals of managed to core buildings, we are currently looking for further core+ and value-add investments in Northern Germany”, completed Kristin Buder, investment manager Hansa Fund.

 

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