Savills IM acquires office and commercial building on Berlin's Kurfürstendamm on behalf of Versicherungskammer
05 October 2022
Savills Investment Management (“Savills IM”), the international real estate investment manager, has advised on the acquisition of a newly constructed office and commercial building at Kurfürstendamm 12 in Berlin for Versicherungskammer. The seller is the RFR-Group, which acquired the asset in 2021.
The prestigious new building in Berlin's premium location comprises more than 6,500 sqm of rental space across six floors and achieved DGNB Platinum certification. The building was part of the historic Gloria ensemble, a former neo-baroque cinema hall. In 2018, this was demolished and a new three-part building ensemble was constructed.
The property at Kurfürstendamm 12 is fully let on a long-term basis to the communications provider Vodafone, the fashion group Mango, the law firm YPOG and the automobile brand "Wey" from the manufacturer Great Wall Motor. Being in close proximity with Kurfürstendamm underground station and Zoologischer Garten station, the office and commercial building has excellent connections to Berlin’s public transport network.
The buyer was advised on the transaction legally and fiscally by CMS, technically by Arcadis, and commercially by JLL. BNP Paribas Real Estate and Gleiss Lutz partnership of lawyers accompanied the transaction for the seller.
Tim Ulrich, Head of Transaction Management Germany at Savills IM, says:
“We are delighted to have secured this attractive office and commercial building in Berlin's undisputed prime location for Versicherungskammer. The transaction and the subsequent asset management of the property marks the first time that the Versicherungskammer and Savills IM have worked together. The building is located in the most frequented section of Kurfürstendamm. This coupled with the modern, new build quality of the property, the DGNB Platinum certification, and the long-term letting to tenants with strong credit ratings make the acquisition a sustainably attractive investment.”
Stephan Huber, Head of Investment Real Estate at Versicherungskammer, added:
"This attractive office and commercial building in an absolutely prime location in Berlin represents a future-proof and sustainable investment due to the high-quality new construction, the stable letting situation and the DGNB Platinum certification. We are pleased that we were able to acquire this high-demand property and further diversify our real estate portfolio.”
Modern, fully let building with DGNB Platinum certification in a premium location in Berlin