PATRIZIA AG has completed the acquisition of a mixed-use office building in Berlin, on behalf of its institutional clients.
The investment comprises a total leasable area of 5,700 square meters (61,350 square feet) across a data center building; two high-quality, modern buildings, including a recently refurbished loft office and a newly built office property; as well as a “Remise,” which is currently under refurbishment.
The asset is situated in Kreuzberg, a Berlin submarket with excellent public transport links that is experiencing growing occupier demand. Kreuzberg is rich with cultural heritage and museums, as well as green spaces, and has recently emerged as a micro-hub for offices, attracting a significant number of tenants in the technology, media and telecom sector, in particular.
Ulf Christiansen, who led the transaction at PATRIZIA, commented, “This is a micro-location we know very well, having previously acquired properties in the immediate area
