In 2020, Hines, on behalf of a German pension fund, took over the asset management of Jaegerstrasse 51, a 66,600 square foot (6,200 square meter) office building in Berlin's Topcity East submarket. The asset was sold to a German institutional investor at the end of 2020, with Hines remaining as the long-term asset manager.
Completed in 1819 and modernized in 2002, Jaegerstrasse 51 is a multi-tenanted building with a wide variety of tenants, ranging from office to residential and a museum. The building is part of the Mendelssohn Palais and is historically listed, having been the former headquarter and family residence of the bankier family Mendelssohn. Jaegerstrasse 51 offers high-quality office spaces and generous outdoor recreation areas in a prime office location of Berlin. It is in close proximity to a wide range of attractions as well as restaurants and bars.