CA Immo acquires office building in Berlin
Berlin, 09 April 2020 -- CA Immo has acquired the fully leased modern office building “Am Karlsbad 11”, located at the south end of the prime Potsdamer Platz office submarket in Berlin.
With a lettable area of 10,098 sqm Am Karlsbad 11 can cater to a wide spectrum of tenants thanks to a flexible floor plan and modern building technology. Situated in the direct vicinity of Potsdamer Platz, the Gleisdreieck Park and the Landwehr Canal, the building offers tenants a central location, outstanding infrastructure and local amenities, as well as excellent transport connections to the entire city area, both through direct access to the Tiergartentunnel and the B96, and through its location at the underground station Gleisdreieck. CA Immo will focus on a comprehensive asset management program to modernise and capture the significant reversion potential in the building.
Christof Altendorfer, Managing Director of CA Immo Deutschland GmbH and Head of Investment Germany: “The property ‘Am Karlsbad 11’ forms a strategic component of CA Immo’s portfolio in Berlin, in particular complementing the three existing properties (Königliche Direktion, Hallesches Ufer, Schöneberger Ufer) and one development (Grasblau) in the prime Potsdamer Platz south submarket. With a strong local team on the ground in Berlin and significant track record leasing in the submarket, we are confident in our ability to capture the reversion potential of the building and to position the property on a sustainable basis.”
CA Immo acquired the property from Real Capital and was advised by Görg (legal), wts (tax), BNP Real Estate (valuation) and CBRE (technology). The vendor was advised by Cushman & Wakefield and Mocuntia (technical).
Images of “Am Karlsbad 11” can be found in the image archive in the Press section at www.caimmo.com using the keyword “Karlsbad” or downloaded at this link.