BMO Real Estate Partners Germany has acquired the mixed-used ensemble Leipziger Platz 14-16 in the Berlin-Mitte district off-market for institutional investors in Germany as part of a club deal. The seller was a joint venture between DC Values from Hamburg and RFR Holding from Frankfurt/Main. The parties agreed not to disclose the purchase price. The fund will be administered by HANSAINVEST Hanseatische Investment-GmbH whereas BMO Real Estate Partners Germany will be responsible for the fund and asset management.
The ensemble consists of three separate office buildings which were constructed in 1996, 2002 and 2015. They are centrally located at Leipziger Platz, between Potsdamer Platz and LP12 Mall of Berlin. At the moment, the ground and first floor of Leipziger Platz 14 and 15 are remodeled into three modern trading units. On completion of the current project development, presumably during the second half of 2018, the lettable retail space will be approximately 6,500 sqm. The rentable office space will be about 13,000 sqm in total. The office and retail use is complemented by 30 housing units, 114 parking spaces in three separate underground garages as well as storage spaces. The anchor tenants include Uniqlo, who has already been renting spaces in LP16 for the past three years.
"The ensemble is based in one of Europe's most attractive tourist locations. After completion of the renovations, the four modern flagship stores with an 80 meter high front will be a downright landmark of Berlin. Together with the development of LP18 – 19, a new high-street destination with huge advertising impact is evolving, running from Potsdamer Platz through Leipziger Platz to the Mall of Berlin.", emphasizes Thomas Hübner, Head of Investment at BMO Real Estate Partners Germany.
Iris Schöberl, Managing Director of BMO Real Estate Partners Germany and Head of Institutional Clients, adds: "It is precisely the combination of retail, offices and housing at one of Europe's most attractive locations that offers great prospects for the future and ideal risk diversification for our investors. The current project development, together with the development in the neighborhood and the immediate environment emphasize this statement."
Die Kanzlei JebensMensching aus Hamburg hat bei der Transaktion den Ankauf für die Käuferseite rechtlich begleitet, die technische Beratung erfolgte durch Duff & Phelps Real Estate Advisory Group aus Berlin. Für die Verkäuferseite war die Frankfurter Kanzlei Gleiss Lutz beratend tätig. Beim Vermarktungsprozess wurde der Verkäufer von RALPHHAGEDORN – Estate of the Art, beraten.