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.
When introducing a property investment opportunity to PIMCO Prime Real Estate you acknowledge that we are under no obligation to accept your introduction or enter into any agreement with you. Fees, commission or other payments in respect of introductions shall only be payable where there is a signed written agreement to that effect entered into between PIMCO Prime Real Estate and the introducer. By submitting an introduction to PIMCO Prime Real Estate you shall be deemed to have accepted the aforementioned terms.
"PIMCO Prime Real Estate” is a PIMCO company that includes PIMCO Prime Real Estate GmbH, PIMCO Prime Real Estate LLC, and their subsidiaries and affiliates: PIMCO Prime Real Estate GmbH (Company No. 158768, Seidlstrasse 24–24a, 80335 Munich, Germany), PIMCO Prime Real Estate GmbH Belgium Branch (VAT No. BE 0841.512.711, Boulevard Roi Albert II, 32, 1000 Brussels, Belgium), PIMCO Prime Real Estate GmbH France Branch (SIRET No. 509 339 669 00053, 50-52 Boulevard Haussmann, 75009 Paris, France), PIMCO Prime Real Estate GmbH Italy Branch (Numero REA MI-2107576, Piazza Tre Torri, 3 20145 Milano, Italy), PIMCO Prime Real Estate GmbH Spain Branch (NIF W2760686B, Paseo de La Castellana, 200 Edificio Spaces, 28046 Madrid, Spain), PIMCO Prime Real Estate GmbH Sweden Branch (VAT No. SE516411865401, Norrlandsgatan 18, 111 43 Stockholm, Sweden), PIMCO Prime Real Estate GmbH UK Branch (Company No. FC036236, 11 Baker Street, London W1U 3AH, United Kingdom), PIMCO Prime Real Estate Asia Pacific Pte Ltd (UEN 202000233H, 12 Marina View #17-02 Asia Square Tower 2, Singapore 018961), PIMCO Prime Real Estate (Shanghai) Co, Ltd (Company No. 91310115MA1K4KBT0L, 479 Lujiazui Ring Road, Shanghai Tower, Pudong New District , Shanghai 200120, People’s Republic of China), PIMCO Prime Real Estate Japan GK (Company No. 0104-03-022895, 1-6-2 Marunouchi, Chiyoda-ku, Tokyo 100-0005, Japan), PIMCO Prime Real Estate LLC (File No. 5234055, 1633 Broadway, New York, NY 10019-6999, USA). PIMCO Prime Real Estate LLC is a wholly-owned subsidiary of Pacific Investment Management Company LLC, and PIMCO Prime Real Estate GmbH and its affiliates are wholly-owned by PIMCO Europe GmbH. PIMCO Prime Real Estate GmbH operates separately from PIMCO. PIMCO Prime Real Estate LLC investment professionals provide investment management and other services as dual personnel through Pacific Investment Management Company LLC.
PIMCO Prime Real Estate is a trademark of PIMCO LLC and PIMCO is a trademark of Allianz Asset Management of America LLC in the United States and throughout the world.