Hines has sold the Zalando Headquarters (HQ) in Berlin to a real estate fund that was set up for Bayerische Versorgungskammer (BVK) on the Luxembourg platform of Universal-Investment. The modern office complex with DGNB Gold certification is located in a prestigious area in Berlin's Mediaspree office submarket. The parties agreed not to disclose the purchase price.
The Zalando Headquarters consists of two buildings with a total leasable area of around 42,000m² spread over seven floors. Completed in October 2018, the complex includes modern office space as well as a dedicated daycare centre, a food court, a roof terrace for sports activities and 156 parking lots. The property is fully leased on a long-term basis to Zalando, Europe's leading online platform for fashion and a Dax40 company since 2021.
Dr. Kai-Magnus Schulte, Managing Director at Hines Immobilien, said: "The building impresses with its excellent location in the Mediaspree area, its innovative and sustainable building concept and Zalando as a long-term tenant. We are pleased that we have found a reputable buyer with Bayerische Versorgungskammer and continue to manage the property as an asset manager in the long term."
Christoph Reschke, Senior Managing Director at Hines Immobilien, added: "We remain committed to, and convinced by, the ongoing positive and sustainable development of Berlin. Both Zalando and the Mediaspree location have greatly improved in recent years and this sale takes this positive development into account. We will continue to identify such attractive and promising projects, develop them further and thus create sustainable value for our investors."
Felix Becker, Deputy Head of Real Estate Investment D-A-CH at Bayerische Versorgungskammer, commented: "With the Zalando HQ in Berlin, we are making a very targeted investment in a property with outstanding building and location qualities in Berlin's Mediaspree submarket. We are convinced that the property will be another key component of our sustainable real estate strategy. We look forward to a long-term collaboration with Hines Immobilien, who will continue to be responsible for managing the property."
