Optimum AM buys Berlin office building (DE)

Optimum AM buys Berlin office building (DE)
Optimum Asset Management has acquired a 15,000m² office asset in Berlin-Pankow. The deal is the first acquisition from Optimum’s German Real Estate Fund IV (GREF IV), which has a strategy to invest in a diversified portfolio of residential and commercial properties. Located in Weißensee, Berlin, within close proximity to the Prenzlauer Berg residential district and Alexanderplatz public square, the five-storey commercial asset offers significant value creation potential as a result of increasing demand for office space in Berlin, resulting in low office vacancy of 2%. Within close distance to tramway networks, the site will offer an appealing option for tenants. The acquisition is the first investment from Optimum’s GREF IV, the fourth iteration in a series of strong performing German real estate funds pursuing properties in the range of €10-40m. 
 
Alberto Matta, Chairman and Founder at Optimum Asset Management, said: “This first acquisition speaks to the characteristics of the portfolio we seek to build with our fourth German Real Estate Fund. Through deep local networks and knowledge in Berlin and other major German cities, we are well placed to further consolidate our strong track record of identifying well-located, high-quality, and mismanaged assets and invest with agility below the radar of larger managers. Germany’s real estate market continues to offer strong opportunities to create value. With the lowest office vacancy among the big seven German cities, Berlin remains one of the most sought-after locations in Europe for office investment, driven by a fast-growing economy, positive demographics and employment growth, and a robust tech and start-up community.”
 
 

 

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