The Schützenstraße quarter – or Schützenquartier for short – is an ensemble of buildings erected in the 1990s in Berlin-Mitte. It was conceived by the Italian start architect and designer Aldo Rossi. The brightly colored objects are considered one of the most important building projects in post-reunification Berlin. Now some of the buildings are changing hands. The investor mentioned in this article is also part of our List of the largest property investors in Germany.
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One third leased to users in the vicinity of the federal government
It concerns altogether 4 of 12 buildings of the Schützenquartier. They each consist of seven floors, which together offer a rental area of just over 20,300 square metres. One third of the space is let to a tenant in the vicinity of the federal government. The lease has just been extended for another 10 years. The remaining existing leases have shorter (residual) terms, and some of them are also vacant. However, the new owner is optimistic about the letting. After all, office space is in demand in the German capital, supply is scarce, especially in central locations, and the vacancy rate for office properties is particularly low by international standards at 1.6 percent. The buyer of the buildings is Henderson Park Capital – a London-based platform for property asset management. It focuses on real estate investments with multi-strategy, value-added and opportunistic approaches in key European markets. The seller is Caleus Capital Investors, an owner-managed real estate company based in Berlin. Source: Immobilienmanager Picture source: Unsplash
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