The contract detailing the sale of the German headquarters building for Mercedes-Benz Vertrieb Deutschland (MBVD), which was completed in June 2013, to Union Investment Real Estate GmbH has been signed. Union Investment will transfer the property to its open-end property fund UniImmo: Deutschland. The office building, which offers a full 28,000 m² of gross floor space above ground, will be let in its entirety to MBVD for a term of 10 years. The sale price is approximately €88 million.
According to Dr. Bruno Ettenauer, CEO of CA Immo, “For us, developing the MBVD headquarters in Berlin to the point of sale is a prime example of a profitable real estate project efficiently realized. Having guided this project to a successful conclusion, creating more high quality office properties to consolidate our asset portfolio in Germany is now priority number one.”
Philip La Pierre, Head of Investment Management (Europe) at Union Investment Real Estate GmbH, remarked, “The full letting of this new structure to a creditworthy user for the long term, together with its promising location in the Mediaspree area, will secure strong revenue and serve to confirm the high occupancy rate of our German fund.”
The MBVD headquarters: energy efficient and functional
Official handover of the office structure developed by CA Immo to the tenant, Mercedes-Benz Vertrieb Deutschland (MBVD), took place this June. Around 1,200 MBVD employees have been working in their company's new German headquarters in Friedrichshain-Kreuzberg since mid-June, overseeing sales and service for the Mercedes-Benz, smart and Fuso brands in Germany. The headquarters building, which comprises a seven-story low-rise building and a 14-level high-rise structure, presents impressively modern architecture while conforming to high environmental standards.
Energy savings of around 30% compared to conventional structures have been achieved thanks to features such as triple-layer insulating glazing. An application has been made for silver certification from the German Sustainable Building Council (DGNB). The project was realized on schedule and within budget; the CA Immo subsidiary omniCon was responsible for construction management.
Source: CA Immo