Allianz and QUEST Investment Partners form JV

Allianz and QUEST Investment Partners have formed a new 50-50 joint venture to acquire Focus Teleport, a fully leased office complex in central Berlin, which will be upgraded over time in line with Allianz Real Estate’s manage-to-core strategy.

In what is the second such partnership between them, Allianz Real Estate and real estate project development and investment company QUEST Investment Partners have acquired the building on behalf of several Allianz insurance companies.  In July last year, the two came together to purchase Überseehaus, an 11,300-square-meter (122,000-square-foot) office and commercial building in Hamburg, Germany.

Focus Teleport, located in Berlin’s Alt-Moabit office hub next to the river Spree, covers nearly 30,000 square meters (323,000 square feet). The complex comprises nine partially interconnected buildings with tenants including leading technology and media firms as well as public sector entities.

The Berlin office market ha