Optimum German fund makes first acquisition
Optimum Asset Management, the boutique real estate investment manager, has announced the acquisition of a 15,000-square-meter (161,459-square-foot) office asset in Berlin-Pankow. The deal is the first acquisition from Optimum’s German Real Estate Fund IV (GREF IV), which has a strategy to invest in a diversified portfolio of residential and commercial properties.
Located in Weißensee, Berlin, close to the Prenzlauer Berg residential district and Alexanderplatz public square, the five-story commercial asset offers significant value-creation potential as a result of increasing demand for office space in Berlin. Close to tramway networks, the site will offer an appealing option for tenants.
The acquisition is the first investment from Optimum’s GREF IV, the fourth iteration in a series of strong-performing German real estate funds pursuing properties in the range of €10 million to €40 million ($11 million-$45 million). Targeting €300 million ($336 million), the