Austrian listed property firm CA Immo has signed a long-term lease agreement with Deutsche Kreditbank AG (DKB) for 34,850 m2 of rental space in the landmark office development Upbeat in Berlin’s Europacity.
Upon signing of the lease agreement, the asset is 100% pre-leased.
CA Immo, which will invest a total of €300 mln in the project, said that it plans to start construction in the second half of the year, with delivery expected in 2025. After completion of the Upbeat building, DKB will move its Berlin headquarters to the property.
‘Upbeat will be CA Immo’s 10th office development in Berlin’s Europacity submarket, and a new landmark building that forever changes Berlin’s skyline,’ said Andreas Quint, CEO of CA Immo. ‘We are delighted that DKB have put their trust in CA Immo to deliver their new corporate headquarters, and believe this landmark lease is proof of concept in our focus on investing, managing, and developing modern urban offices with a focus on user-centric comfort and design, green, healthy, safe space, and emphasis on smart and sustainable real estate.’
With an existing portfolio of 15 buildings, totaling 210,809 m2 of GLA, and active development pipeline of two other projects in Berlin, CA Immo has a long and successful track record of developing modern sustainable office space in the German capital.
