Ardian will acquires Berlin office complex project
Ardian has finalized an agreement with LBBW Immıbilien Development GmbH to acquire the office project 3 Höfe work, which is currently under construction, at Lützowstrassen107-112 in central Berlin. Finacial details of the transaction will not be disclosed.
Frankfurt am Main/Berlin, May 23, 2019 – Ardian, a world-leading private investment house, has finalized an agreement with LBBW Immobilien Development GmbH to acquire the office project “3 Höfe work”, which is currently under construction, at Lützowstrasse 107-112 in central Berlin. Financial details of the transaction will not be disclosed.
The property will have around 18,000 square of rental space in one of Berlin’s most sought after office locations. It is located in cloe proximity to Potsdamer Platz and the City Park at Gleisdreieck. The office complex will have seven stories and an underground car park with 52 parking spaces. The modern architecture offers attractive and flexible floor spaceoptions, allowing for a variety of room concepts as well as high quality fixtures and fittings. It will comprise four development units with two main entrances and around 2,500 square metre of rental space per floor. The property is expectes to be completed in the third quarter of 2021.
Bernd Haggenmüller, Managing Director, Ardian Real Estate, said: “The construction project “3 Höfe work” is an ideal addition to our existing property portfolio in Berlin. With the property at Lützowstrasse 105-106, we have just recently in December 2018 acquired a property in direct vicinity to our new investment, underscoring the attractiveness of the Gleisdreieck location. We anticipate continued high demand for office space in central Berlin and, combined with low vacancies, we expect further dynamic rental and value growth potential for modern and attractive properties. Berlin is known for its thriving and diverse corporate landscape and is therefore a core market for Ardian Real Estate, which acquires and develops attractive core-plus and value-add properties in key European cities.”
Fulya Altunyay/[email protected]