Real IS AG and Universal-Investment have purchased the “Eiswerk” complex, located in Berlin’s Mitte district, from the project developer Trockland. The investment has been made on behalf of a fund of Bayerische Versorgungskammer (BVK). The parties agreed not to disclose the price of the transaction.
"Following the acquisition of ‘Blue Towers’ at the beginning of 2020, we are delighted to have acquired a second property for Bayerische Versorgungskammer through a competitive bidding process and to be taking care of the future day-to-day asset management of the property for one of the biggest public pensions groups in Germany," said Tobias Kotz, Executive Director of Real IS AG. While Axel Schulz, Global Head of Investment Management added: "We see the location as a particular asset and this, along with the attractive tenant mix, was what convinced us to invest."
Norman Fackelmann, Head of Real Estate Management at Bayerische Versorgungskammer (BVK) commented: "Owing to the property’s mixed-use in a very good micro-location, the investment is an excellent addition to our real estate portfolio, and will generate attractive returns for our investors."
The “Eiswerk” in central Berlin consists of four building parts: two offer office space and the other two residential units. The office buildings are let on a long-term basis to Techspace and Trade Republic. The property has an aggregate office area of approximately 15,000m², with the total residential space is 3,500m².
Located on Kopenicker Strasse, the quarter consists of two existing buildings, which are protected structures originally built for the former Norddeutsche Eiswerke AG, and two new buildings. It was completed in May 2022 after extensive transformation by Trockland in collaboration with Graft Architects. The development offers tenants state-of-the-art spaces and adds value to the neighbourhood as a whole. "We particularly appreciate Trockland’s pioneering, professional development of this property in combination with the extraordinary architecture," commented Norman Fackelmann.