AEW announces the acquisition of the Federal Joint Committee’s headquarters at the former Royal Porcelain Manufactory area in Berlin, on behalf of one of its German Special-AIFs. The purchase price was undisclosed.
The modern 5,255 m² high quality office property is located in the inner city Berlin Spreestadt-Charlottenburg district, and is fully let to the Joint Federal Committee (G-BA).
The office benefits from its position in the Royal Porcelain Factory (Königliche Porzellan-Manufaktur or KPM) area, close to some of most prestigious scientific institutes in Berlin, including the Technische Universität Berlin. The KPM area is also a very well-known hub for associations of the German healthcare system which is set to be further strengthened following the completion of a number of nearby office and residential projects.
Marc Langenbach, Head of Funds & Separate Accounts Germany, commented: “This acquisition is not only a strong investment in its own right, but through it we are able to further successfully diversify the portfolio allocation of the core investment strategy. We continue to believe in the potential and the positive long-term development of the Berlin office market.”
