GPT Halverton has acquired an office complex in Berlin for its H2O fund from Hippon Verwaltungsgesellschaft, a joint venture of IVG Development and Provinzial Versicherung. The financial details of the transaction were not disclosed.
GPT Halverton has acquired an office complex in Berlin for its H2O fund from Hippon Verwaltungsgesellschaft, a joint venture of IVG Development and Provinzial Versicherung. The financial details of the transaction were not disclosed.
The property is located at Salzufer in the Charlottenburg district and about three quarters of the 19,000 m2 of lettable area is office space. The remaining area is made up of storage and exhibition space, a restaurant and a fitness center. Consisting of three interconnecting buildings, the property is let to ten tenants. The main tenant is Deutsche Bahn and its subsidiaries.
GPT Halverton is a fund and asset management company with EUR 2.2 bn of assets under management. The company manages six funds across Europe in the industrial, office and retail sectors. The H2O fund invests exclusively in the office market of medium-sized regional towns and cities. The fund is in the process of investing a total of EUR 1 bn in Germany, the Netherlands, Finland, Sweden, Denmark and France.
