Austrian listed property firm CA Immo announced this week that it is starting construction of a new office scheme in Berlin's Europacity district.
The Upbeat building complex will offer around 35,000 m2 of rental space and is fully pre-let for 15 years to DKB, which is set to open its new DKB Campus here at the end of 2025.
CA Immo’s total investment amounts to around €300 mln. Completion is expected in 2025.
Andreas Quint, CEO of CA Immo, said: 'The office tower "Upbeat" is already our tenth building development in Berlin's Europacity. Berlin is one of the most attractive real estate markets in Germany and the conclusion of a 15-year lease for this building has once again proven that our early strategic focus on this market was right. Upon completion in 2025, "Upbeat" will make a significant contribution to our rental income and also further improve our key figures – for example, FFO 1.'
