Bremen is one of the so-called B-cities in the German real estate market and is considered an attractive location for office properties. The acquisition of an office building in the Hanseatic city by Munich’s Real I.S. should also be seen in this context. This article is based on the unique List of the 400 largest German real estate investors in Germany.
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Building complex “One” consists of two components
The “One” building complex, consisting of two parts, is located in the Überseestadt district of Bremen. This is the name of an urban development project that has been underway for a good ten years and is intended to put the old port areas in Bremen to a new use. The southern part of the Überseestadt near the old town has already been developed via Lloydstraße and Eduard-Schopf-Allee. This is also where the “Eins” office building, which was completed in 2016, is located.
The building consists of a seven-storey section and a six-storey section. Both components show the observer a partially curved glass façade of simple elegance. The complex offers a total of 18,700 square meters of rental space, 15,500 square meters or almost 83 percent of which is office space. The rest – mainly on the ground floor – is reserved for retail space (approx. 2,300 square meters), gastronomy (approx. 400 square meters) and archive space (approx. 500 square meters). The property also has 200 car parking spaces. The property is fully let.
Munich-based Real I.S. AG Gesellschaft für Immobilien Assetmanagement is a subsidiary of Bayerische Landesbank and specialises in real estate funds. It offers funds for private and institutional investors. The “One” purchase was for Real I.S.’s open-ended public real estate fund “Realisinvest Europa”. The fund has only been in existence since autumn 2019 and the Bremen property is the fourth in the fund portfolio.
Picture source: Unsplash