Real IS and Universal-Investment snap up Berlin mixed-use property for BVK fund

Located on Köpenicker Strasse, the Eiswerk redevelopment of a historic artificial ice factory consists of four buildings, of which two are existing protected structures.

Two office buildings, with around 15,000 m2 of area, are let on a long-term lease to Techspace and Trade Republic, while the two residential units with 55 apartments have 3,500 m2 of total space.

The investment was made on behalf of a fund managed by Universal-Investment and owned by German public pension fund management group Bayerische Versorgungskammer (BVK).

Tobias Kotz, executive director of Real IS said: ‘‘Following the acquisition of Blue Towers at the beginning of 2020, we are delighted to have acquired a second property for Bayerische Versorgungskammer through a competitive bidding process and to be taking care of the future day-to-day asset management of the property for one of the biggest public pensions groups in Germany.’

Axel Schulz, global head of investment management added: ‘We see the location as a particular asset and this, along with the attractive tenant mix, was what convinced us to invest.’

Norman Fackelmann, head of real estate management at BVK commented: ‘Owing to the property’s mixed use in a very good micro-location, the investment is an excellent addition to our real estate portfolio and will generate attractive returns for our investors. We particularly appreciate Trockland’s pioneering, professional development of this property in combination with the extraordinary architecture.’

Real IS will be in charge of asset management for the office and residential parts of the property

The site was completed in May 2022 after extensive transformation by Trockland and Graft Architects.

Trockland was advised by BNP Paribas, Freshfields and Brummer und Partner mbB, while Neuwerk, Ernst & Young and TA Europe acted as advisors to the buyer.