A joint venture of private equity firm HighBrook Investors and Berlin-based investment and asset management firm Bato Group Real Estate Investments has acquired the Schuckert Höfe office property next to Treptower Park and within a few blocks of Berlin’s Media-Spree submarket.
Financial details were not disclosed.
Schuckert Höfe, located at Am Treptower Park 28–30, is an ensemble of heritage buildings originally constructed in the late 19th century. The property currently houses over 20,000 m2 of predominantly office floor space and has a preliminary building permit to build in excess of 10,000 m2 of additional commercial space.
Schuckert Höfe was partially refurbished a decade ago as an office campus by the previous owners. It will now undergo a further revitalization programme envisaging a new master-planned office campus concept. It will include a substantial refurbishment of the existing heritage buildings supplemented by the development of new modern grade A offices.
HighBrook serves as the majority partner and Bato Group will be both a minority partner and also the asset manager responsible for implementing the redevelopment project.
