PGIM Real Estate has acquired Berlin office tower STREAM, from SIGNA, as part of a forward deal on behalf of German and Swiss institutional investors.
“Berlin is an exciting market that offers a lot of potential in the office segment,” said Sebastiano Ferrante, head of Germany and Italy at PGIM Real Estate. “This is primarily indicated by the continuing demand from tenants, combined with a limited supply. We are therefore pleased that, as part of our investment strategy, we have been able to make a further acquisition for our institutional investors which should enable them to achieve an attractive increase in value and a return in the long term.”
The modern office building, currently under construction, is located at the Mercedes-Benz Arena. When finished, this architectural landmark that will shape the cityscape will house around 2,500 workspaces, with a height of around 90 meters (300 feet) and a total floor area of around 50,000 square meters (540,000 squar
