German pension fund RVK buys mixed-use asset in Berlin

Warburg-HIH Invest Real Estate (Warburg-HIH Invest) has bought a central Berlin mixed-use building for Rheinische Versorgungskassen (RVK), a German pension fund.

Quartier am Auswärtigen Amt in Berlin-Mitte, a 19,500sqm building that includes office, hotel and residential units, was built in 2008.

The price and the seller, which was advised by CBRE, were not disclosed.

Hans-Joachim Lehmann, managing director of transaction management in Germany at Warburg-HIH Invest, said the investment would enable RVK “to participate in the dynamic growth of Berlin’s office, residential and hotel markets”.

The €5.7bn pension fund has a 1% allocation to direct property, according to its website.

Lehmann said: “The Quartier boasts a wide range of usage categories, which makes it a highly diversified investment, while it also benefits from a multi-tenant structure and well-established tenants.”