Real estate developer Edge has successfully handed over Edge East Side to Pimco Prime Real Estate, which has purchased the asset on behalf of clients led by Bayerische Versorgungskammer (BVK).
The approximately 140-metre-high office building, which features innovative and open architecture, has been built near the Warschauer Brücke in Berlin.
It currently stands as the tallest completed multi-story building in the German capital and the first high-rise in Berlin designed by Bjarke Ingels Group (BIG), in collaboration with Aukett & Heese.
It includes a total of 37 floors, spanning an area of approximately 80,500 m2, with a usable area of around 65,000 m2. Amazon will establish its Berlin headquarters within the building, accommodating more than 3,400 employees.
Sustainability achievements
The building has been pre-certified Platinum by the German Sustainable Building Council (DGNB), and has achieved the targeted Well v2 Gold certification from the International Well Building Institute.
During the four years of construction, the Edge team coordinating over 250 companies successfully tackled various challenges across time. At the start of construction, reducing the impact of the office tower's load on the foundation of the Warschauer Brücke, roughly 100,000 tons, was crucial.
To prevent the bridge from sinking and getting damaged, Edge compacted the ground below the foundation of the Warschauer Brücke using invasive cement suspension and temporarily lifted the bridge.
During the construction of the 32nd and 33rd floors, a low-carbon concrete was used for the first time in Germany, aiming to reduce CO2 emissions by 50% compared to the use of traditional concrete.
Coen van Oostrom, founder and CEO, Edge, said: 'Just four years ago, we received the building permit, and today, as agreed, we can hand over this uniquely designed building in Berlin.
'The accomplishment amidst market disruption of recent years and numerous technical challenges is attributed to the excellent collaboration between planning, execution, tenants, and owners.
'I thank everyone involved for mastering this extremely demanding project. Through innovative architecture that communicates with the traditional construction style of the surroundings, we have created a new landmark in and for Berlin which we can be proud of.'
New owners
In 2019, Pimco Prime Real Estate agreed the forward deal with Edge to acquire the building through a joint venture between several Allianz group entities and Universal-Investment, acting on account of multiple German pension funds each represented by Bayerische Versorgungskammer (BVK).
Annette Kröger, CEO Europe, Pimco Prime Real estate, commented: 'We are delighted to take delivery of Edge East Side Berlin on behalf of our clients.
'This latest addition to our global office portfolio is a showcase of our ability to identify and oversee the development of intelligent, sustainable, and market-leading assets with trusted partners which attract prime tenants and create value for our investors. We believe there will continue to be demand for such top-quality workplaces.'
Norman Fackelmann, head of real estate, Bayerische Versorgungskammer, said: 'The Edge East Side Berlin project was a complete success thanks to the outstanding cooperation of all joint venture partners.
'We are delighted that this striking office tower in Berlin has been completed on schedule. The full occupancy of Edge East Side Berlin shows that tenants are still looking for sustainable, flexible office space. We are proud to have such a sustainable property in our portfolio.'
