Generali Real Estate has completed the acquisition of the Weidt Park Corner office building in Berlin, on behalf of the pan-European fund Generali Europe Income Holding (GEIH) managed by Generali Real Estate.
The seller of the asset is DWI Group, a renowned developer based in Hamburg. Financial details were kept confidential.
The eleven-storey Weidt Park Corner building comprises around 12,600 m2 and is located as a landmark on Otto-Weidt-Platz, the most central spot in Berlin’s emerging Europacity district. Designed by the Staab Architekten studio, the building offers modern office spaces, as well as a restaurant, lobby and showroom on the ground floor. It has been recently completed by the general contractor Hochtief, and is fully let to “Die Autobahn GmbH des Bundes” as their headquarters, hosting around 700 employees.
The acquisition is in line with Generali Real Estate’s strategy of investing in prime office and high street retail assets in the most important and resilient European cities such as Berlin. In Germany, Generali Real Estate currently manages a portfolio of 230 properties, worth about €4.5 bn.
