Allianz Real Estate has acquired a new office development in Berlin from developer EDGE Technologies in a forward deal for a joint venture between several Allianz group entities and Universal-Investment, acting on behalf of a real estate fund launched for German pension fund Bayerische Versorgungskammer.
The acquisition of EDGE East Side Berlin is the first equity deal in which Allianz Real Estate has acquired and will manage an asset on behalf of a joint venture including a third-party institutional investor wishing to invest alongside Allianz.
For Allianz Real Estate, the acquisition supports its focus on prime office assets in tier 1 cities and also extends established relationships with both EDGE and BVK. This is the latest development scheme led by Allianz Real Estate to deploy “smart” technology which places tenant well-being and sustainability at its core. It follows the recently announced Corso Italia 23 deal in Milan and the acquisition in July of EDGE Haf
