Cresco Capital Group has acquired the event location Station-Berlin and its operator. The seller is Station Grundbesitz. The purchase price was not disclosed. The transaction was financed via a separate account mandate with several family offices. Following the acquisition, Cresco now manages an investment volume of €1.3bn.
The asset is located at Luckenwalder Str. 4-6 in the Kreuzberg district, immediately next to Gleisdreieck underground station. Originally home to the Dresdner Bahnhof – the starting point and terminus of the Berlin-Dresden railway line at its time – the site was acquired and developed by the German postal service in 1907. For the next 90 years, it served as the postal railway station for the capital, handling parcels and goods from around the world.
Station-Berlin comprises eleven different historical halls and new buildings with a total gross floor area (above ground) of around 26,400m². The location will continue to be used for conferences, congresses, exhibitions, trade fairs, galas, training courses and other events over the coming years. In 2016, Station-Berlin won the renowned Location Award, presented every year to Germany’s best event locations, in the category “Best Meeting and Conference Location”.
“With Station-Berlin, we are expanding our portfolio to include another listed ensemble in Berlin,” commented Alexander Burk, co-founder of Cresco. “Our particular passion and expertise lie in investing in historical buildings and gently and respectfully giving them a new lease of life.”
