Barings acquires office in Berlin
The parties agreed not to disclose the purchase price.
Barings, one of the world’s largest diversified real estate investment managers, has acquired a sizeable office in Berlin’s central Mitte district for a pan-European core strategy.
The seller of the multi-tenant asset was Westbrook Partners. The parties agreed not to disclose the purchase price.
The fully occupied 3,700 sq m property at Leipziger Strasse 124 is made up of 3,210 sq m of office and 490 sq m of retail space, as well as 12 parking spaces. The office, which features an elegant glass façade and modern architecture, was built in 2005 and holds a BREEAM “very good” certificate.
The mixed-use property is placed prominently on the corner of Leipziger Strasse and Wilhelmstrasse, directly opposite the Federal Ministry of Finance and only a few minutes’ walk from local and underground train station Potsdamer Platz. Apart from its excellent connectivity to public transport, the location benefits from the extensive retail, food and beverage, and leisure amenities around the central Potsdam and Leipzig Squares.
The transaction was brokered by Colliers. Barings was advised by BNP Paribas Real Estate, Ashurst (legal), TA Europe (technology and sustainability), Tauw (environmental engineering) and Deloitte (tax).