Tishman Speyer Investment Management (TSIM)
has acquired the “Haus am Bundesrat”, an office building in central Berlin, in a share deal. The transaction was carried out on behalf of two German institutional investors. The parties have agreed not to disclose the purchase price.
The building at Leipziger Strasse 127-128 is located directly opposite the Bundesrat, Germany’s upper house of parliament, and is in the immediate vicinity of the iconic Potsdamer Platz. The property’s 10,400m² of office space is leased on a long-term basis to the Institute for Federal Real Estate (Bundesanstalt für Immobilienaufgaben)
, an agency of the German federal government. The property was built in 2007 and most recently renovated in 2016.
Nils Skornicka, Managing Director of TSIM, said: “The long-term lease with the federal government agency ensures a stable long-term return for our investors. The acquisition once again demonstrates Tishman Speyer’s ability to secure the most sought-after investment properties, in an extremely competitive market.”