Tishman Speyer acquires "Pressehaus am Alexanderplatz" in Berlin (DE)

Tishman Speyer, one of the world’s leading developers, owners, operators and asset managers of first class real estate, has acquired the "Pressehaus am Alexanderplatz" property in Berlin. The acquisition was made on behalf of TSEV VII, Tishman Speyer’s latest in a series of European value-added funds, which has been investing since early 2015 and is invested in properties in London, Paris, Frankfurt and Berlin. The seller of the property, which accommodates 27,500m² of office space, was the media group Bertelsmann.

The building is located on Karl-Liebknecht-Strasse 29 right at Alexanderplatz in Berlin-Mitte. It has been listed under a heritage preservation order since 2015 and links Alexanderplatz with the neighbouring Scheunenviertel and Spandauer Vorstadt districts. Following the departure of the current tenant of the building by mid-2017, Tishman Speyer plans to carry out an extensive refurbishment program with the aim of delivering attractive new and innovative office space to an extremely supply constrained Berlin office market.

"The 'Pressehaus am Alexanderplatz' building is one of the few large-scale properties in Berlin's dynamic Mitte district. We are therefore delighted to have this opportunity to activate and reposition the property and create modern, high-quality office space and, in doing so, to make a lasting impression in the vibrant district around Alexanderplatz," explains Florian Reiff, Senior Managing Director of Tishman Speyer.

The "Pressehaus am Alexanderplatz" is the second major acquisition made by Tishman Speyer in Berlin in the past year. In August 2015, the firm acquired the prime property "Quartier 205" located between Friedrichstraße and Gendarmenmarkt. "With this new acquisition, we are underscoring the strength of our interest in the Berlin real estate market. We will therefore continue to further expand our Berlin portfolio with future investments," adds Florian Reiff.