Hines sells Zalando HQ in Berlin to Bayerische Versorgungskammer
Hines has sold the Zalando Headquarters in Berlin to a real estate fund that was set up for Bayerische Versorgungskammer (BVK) on the Luxembourg platform of Universal Investment. The modern office complex with DGNB Gold certification is located in a prestigious area of Berlin's Mediaspree office submarket. The parties agreed not to disclose the purchase price.
Hines Germany previously advised the seller, a Luxembourg real estate investment fund, when it acquired the property in 2018, which then was under construction, in an off-market transaction. Hines Germany took over the asset management of the property on acquisition by the seller, which Hines will continue to be responsible for following BVK’s acquisition.
The Zalando Headquarters consists of two buildings with a total leasable area of about 42,000 square meters (430,556 square feet) on seven floors. Completed in October 2018, the complex includes modern office space, as well as a dedicated daycare center, a fo