For Allianz Real Estate, the acquisition supports its focus on prime office assets in tier 1 cities and also extends established relationships with both EDGE and BVK. This is the latest development scheme led by Allianz Real Estate to deploy ‘smart’ technology which places tenant well-being and sustainability at its core. It follows the recently announced Corso Italia 23 deal in Milan and the acquisition in July of EDGE HafenCity Hamburg.
The 35-storey landmark office building in Berlin, which will offer the highest environmental rating throughout its 65,000 sqm of lettable space in the Mediaspree sub-market, has been designed by Bjarke Ingels and developed by EDGE – specialists in developing sustainable, modern office assets that make extensive use of ‘smart’ building technologies. On its completion in 2023, the building will be one of the most hi-tech in Berlin.
The Mediaspree sub-market has become a sought-after, fast-growth location seen as a strong alternative to Berlin’s central business district, especially from the tech sector looking for assets with modern features and larger floor plates. In Allianz Real Estate’s inaugural Cities That Work report published in October last year, Berlin ranked fourth overall, with the report noting that Berlin is increasingly seen as Germany’s digital and creative hub.
“EDGE East Side Berlin further underscores our successful commitment to working with prime partners, investors and stakeholders in prime locations globally. BVK is a highly sophisticated investor with a similar, long-term mindset to Allianz Real Estate and we are delighted to announce that they are investing with us alongside Allianz on this key strategic asset,” said François Trausch, CEO, Allianz Real Estate.
“We’re delighted to announce our latest forward purchase in the core Berlin office market, in a deal that showcases our increasing commitment to developing differentiated, hi-tech assets which focus on sustainability and social well-being. Developing smart buildings has become vital in attracting prime tenants,” said Annette Kroeger, CEO of Allianz Real Estate North & Central Europe. “Responsible investing goes to the very heart of our investment strategy and we will continue to actively target additional deals that focus on sustainability as we look to grow our portfolio and support our underlying investors.”
“We are very happy about this transaction. Allianz is a partner who shares our values of creating intelligent and sustainable real estate and with whom we have already had positive collaboration on EDGE HafenCity Hamburg. The world needs better buildings – we will deliver on this claim at EDGE East Side Berlin,” said Martin Rodeck, Executive Managing Director EDGE Germany.
Allianz Real Estate was advised by CBRE.