(BERLIN) Ampega Real Estate GmbH has acquired the office and commercial building Schloßstraße 20 in Berlin-Steglitz for HDI Deutschland AG. The seller is the Hines Pan-European Core Fund (HECF), a fund managed by the international real estate firm Hines. The new main tenant Globetrotter took over the retail space from Sport Scheck in mid-year and will open its newly defined experience store already in October.
Ampega was advised by GSK Stockmann (Dr. Dirk Brückner/Dr. Philip Huperz), CBRE and GMA Gesellschaft für Markt- und Absatzforschung. The seller was legally advised by P+P Pöllath + Partners (Dr. Matthias Durst). COMFORT brokered the transaction.
Djam Mohebbi-Ahari, Managing Director of Ampega comments, "This modern property in a prime location on the highly frequented Schloßstraße offers excellent flexibility and complements our retail portfolio perfectly. With our new main tenant Globetrotter, we have a sustainable retail concept that will offer customers an exciting shopping experience thanks to its high level of product range and consulting expertise."
Peter Epping, Fund Manager of the Hines Pan-European Core Fund, says, “The sale of the property is another successful example of our strategy to create long-term value through active asset management. After nine years, we are pleased to have achieved a result for our investors that significantly exceeds expectations. Even after the sale HECF will continue to be a long-term investor in Berlin.”
Christoph Reschke, Co-Managing Director Germany at Hines, adds, “The new letting to Globetrotter in a challenging market environment for retail properties confirms that stationary retail can be successful if location, property and letting concept are carefully coordinated. The basis for this is the strength and potential of Hines' European platform and particularly in this case our experienced Berlin team.”
The parties have agreed not to disclose the purchase price.
Ampega plans to further increase the real estate quotas of its affiliated Group companies in the coming years. Sales are therefore not planned for the time being. All purchases will be made from callable equity. The company is looking for nationwide forward deals and portfolio properties in the asset classes of office, logistics, retail parks, mixed-use district developments and existing residential complexes for energy-related modernization. Sustainable commercial buildings without textile occupancy are selectively reviewed.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 225 cities in 25 countries. Hines has approximately $144.1 billion of assets under management, including $75.5 billion for which Hines serves as an investment manager, including non-real estate assets, and $68.6 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,426 properties, totalling 472 million square feet. The firm’s current property and asset management portfolio includes 576 properties, representing over 246 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organisations in the world.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 55 cities in 13 countries, with €22.7 billion of assets under management, including €19.8 billion for which Hines serves as an investment manager and €2.9 billion for which Hines provides third-party property-level services, in Austria, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.
Visit www.hines.com for more information.
Ampega Real Estate GmbH:
Ampega Real Estate is a member of the Talanx Group. The company manages the investments in "real estate" on an operational and strategic level for the companies of the Talanx Group. As a professional service provider for the asset class "real estate", it optimizes their increase in value and bundles the entire value chain from acquisition to project development, portfolio optimization and disinvestment. These tasks are flanked by risk management and strategic portfolio management.