BC Partners Real Estate makes first investment in Germany

BC Partners Real Estate (BCPRE), the real estate investment arm of BC Partners has made its first investment in Germany. The financial terms and seller were not disclosed.

The BC Partners European Real Estate I Fund (BCPERE I), which is advised by BCPRE, has acquired the property known as Alte Post Kreuzberg at Tempelhofer Ufer 1 in Berlin’s Kreuzberg district.

Built in 1902 in the then contemporary “industrial style,” the brick building has been completely renovated. It totals 4,900 square meters (52,743 square feet) of mainly office space and has been granted full approval for an extension of 1,800 square meters (19,375 square feet) of office use. The multitenant building is currently fully leased, mainly to tenants from the IT and business services industries. It also contains a trendy café and bistro.

“Our investment philosophy is based on the strong conviction that real estate markets across Europe are currently experiencing a paradigm shift. Deman