Allianz Real Estate has expanded its portfolio in Berlin with the purchase of Markgrafenpark, an office complex comprising eight buildings near Friedrichstrasse in the centre of the German capital .
Allianz Real Estate has expanded its portfolio in Berlin with the purchase of Markgrafenpark, an office complex comprising eight buildings near Friedrichstrasse in the centre of the German capital .
In a statement on Thursday, Allianz Real Estate said it made the acquisition on behalf of the German Allianz insurance companies for around EUR 80 mln.
The offices which constitute the Markgrafenpark complex were built between 2003 and 2005. The complex provides some 40,000 m2 of space, largely let to JobCenter and insurance company BKK Verkehrsbau Union.
'Our tenants benefit not just from the proximity to Friedrichstrasse, one of Berlin's prime locations, but also from the affordable rents,' said Stefan Brendgen, CEO of Allianz Real Estate Germany.
The purchase comes hard on the heels of Allianz Real Estate's acquisition last month of the Quartier 207 mixed-use scheme at Friedrichstrasse 76-78. In April, Allianz Real Estate also provided financing for the purchase of the Gropius Passagen mall in Berlin, while last year it bought the Friedrichstrasse 200 office scheme.
