AEW has acquired B5, an office-led building in the Wilmersdorf district of central Berlin’s City West area, on behalf of its City Office Germany Fund.
Matthieu Samaran, director of AEW's Düsseldorf investment team, commented: “We consider B5 to be a rare investment opportunity in terms of the quality of space, location and future tenant mix. Properties of this kind are not traded often in today’s market and, upon completion of the refurbishment at the end of 2019, we believe our investors will benefit from an attractive value uplift.”
Following a final equity raise from institutional investors, the fund is now fully deployed with total assets under management increasing to approximately €345 million ($391 million). The fund targets office properties with the potential to create further value in established and developing areas across Germany’s top six cities. City Office Germany Fund launched in 2017.
B5 is an eight-story property located at Bliss
