A real estate fund established by Bayerische Versorgungskammer on the Luxembourg platform of Universal-Investment has acquired the head office of e-commerce giant Zalando in Berlin.
The asset was sold by Hines for an undisclosed price.
The modern office complex with DGNB Gold certification is located in Berlin's Mediaspree office submarket. The property comprises two buildings with a total leasable area of around 42,000 m2 over seven floors.
Felix Becker, deputy head of real estate investment D-A-CH at Bayerische Versorgungskammer, said: 'With the Zalando HQ in Berlin, we are making a very targeted investment in a property with outstanding building and location qualities in Berlin's Mediaspree submarket.
'We are convinced that the property will be another key component of our sustainable real estate strategy. We look forward to a long-term collaboration with Hines Immobilien, who will continue to be responsible for managing the property.'
Hines Germany advised the seller of the property, a Luxembourg real estate investment fund, when it acquired the asset in an off-market transaction in 2018. The property was under construction at the time.
Completed in October 2018, the complex includes modern office space as well as a dedicated daycare centre, a food court, a roof terrace for sports activities and 156 parking lots. The property is fully leased on a long-term basis to Zalando, a Dax40 company since 2021.
Hines Germany took over the asset management of the property on acquisition, and will continue to be responsible for this under BVK’s ownership.
Dr. Kai-Magnus Schulte, managing director at Hines Immobilien, said: 'The building impresses with its excellent location in the Mediaspree area, its innovative and sustainable building concept and Zalando as a long-term tenant.
'We are pleased that we have found a reputable buyer with Bayerische Versorgungskammer and continue to manage the property as an asset manager in the long term.'
Hines was advised on the transaction by Colliers, GSK Stockmann, PwC, Arcadis and Kompass Engineering. On the buyer side, Allen & Overy, Ernst & Young and CBRE acted as advisors. Universal-Investment manages the Luxembourg real estate fund.
