BC Partners Real Estate has made its first investment in Germany on behalf of its European fund.
The manager’s BC Partners European Real Estate I Fund (BCPERE I) has acquired the Alte Post Kreuzberg at Tempelhofer Ufer 1 in Berlin’s Kreuzberg district.
Built in 1902, the brick building has been completely renovated. It houses around 4,900sqm of mainly office space and has been granted full approval for a 1,800-sqm extension with office use.
Laurian Douin, BCPRE partner, said: “Amid changing requirements from all stakeholder groups, we are seeing the increased need and pressure to provide buildings that match new working and living concepts, especially in Germany’s major office locations.
”This is where we are leveraging our wealth of experience to reposition existing properties and realise new project developments. Against this backdrop, the German real estate market offers attractive investment opportunities with an excellent risk/return profile that complement very well BC Partners Real Estate’s international portfolio.”
Outside Germany, BCPERE I has so far deployed capital across its core markets in France, the UK, and Italy.
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