Specialised real estate fund KanAm Grund Öffentliche Institutionen Deutschland has acquired the Nexus Building in Berlin-Spandau in the Siemensstadt locality.
Financial details were not disclosed.
The office building, which extends to over 10,000 m2 with 20 car and 107 bicycle parking spaces, is fully leased to Deutsche Rentenversicherung (DRV), Germany’s largest provider of pension insurance, on a long-term basis.
The seller of the Nexus Building in Berlin is global private markets firm Partners Group, acting on behalf of its clients, working with operating partner Arax Properties.
The Nexus Building was built around 1917 according to the plans of the architect Hans Hertlein, then head of the construction department in the Siemens Group. In 1924 the building was completed as a research laboratory and was used as an administration building for the neighbouring Siemens factory.
The property was later repurposed as an office building in the 1980s and was extensively redeveloped in 2019/2020. The building is subject to monument protection.
The property has an energy certificate for non-residential buildings valid until September 2030. In addition, certification by one of the leading sustainable building certification systems is achievable and is being pursued.
As a single-tenant, DRV uses the entire building, which consists of a six-story front building in the west and two side wings of the same height, as a university and administration building.
KanAm Grund Öffentliche Institutionen Deutschland is targeting a volume of more than €500 mln, with at least 10 properties in political centres such as federal capital or state capitals, as well as supraregional and regional administrative centres including Cologne, Frankfurt or Leipzig.
Partners Group and Arax Properties were advised by BNP Paribas Real Estate GmbH and Engel & Volkers Commercial.
