Berlin project sells for €456m
Luxembourg-based real estate company Vivion Investments has agreed to acquire two segments of the Quartier Heidestrasse (QH) project in central Berlin from Aggregate Holdings, Germany-focused real estate investment company, for €456 million ($456 million).
“This acquisition is in line with our company’s strategy of acquiring high-quality, income-producing assets in prime locations in Germany top-tier cities,” said Sascha Hettrich, Vivion’s CEO.
QH Core and QH Spring have a combined gross construction area of 85,095 square meters (915,955 square feet). Together they represent approximately 15 percent of the value of the project.
Leasing volumes continue to be strong, with sizeable lease agreements now being negotiated. Aggregate is in ongoing discussions with other potential buyers on the rest of QH, with about 85 percent of the asset still to be sold whole or in parts.