Frankfurt/Main / Berlin, 9 September 2022 – ABG Real Estate Group, in cooperation with its joint venture partner Felix Gädeke, has sold the “VoltAir” office complex in Berlin’s Mitte district to a joint investment vehicle of Swiss Life Asset Managers and Norges Bank Investment Management. The purchase price amounts to approximately €457 million.
Ulrich Höller, Managing Partner at ABG Real Estate Group, said:
“The sale of this outstanding landmark property in the challenging current market environment is testament to VoltAir’s top quality in terms of architecture, equipment, structure and sustainability – strong arguments in convincing first-class investment houses.”
BNP Paribas Real Estate and CBRE advised on the transaction. Legal and tax advice was provided by Wagensonner Rechtsanwälte and ALR Treuhand.
VoltAir already counts as one of Berlin’s most attractive and state-of-the art office complexes: it is situated in Berlin’s Mitte business district (bordering Alexanderstrasse, Voltairestrasse, and Dircksenstrasse), which is rapidly growing in stature in terms of the city's economy and where a number of renowned companies are located. The most recent tenants are a leading German biotechnology company, which will establish its representative office for the German capital in VoltAir, and Hal Leonard, a leading music publisher. Previously, digital bank N26, which will locate its German headquarters there, secured space at VoltAir – as did renowned corporate tenants Seven Senders and TomTom.
With its distinctive architecture, the new building marks an important and attractive office location between Alexanderplatz and the Mediaspree development. Covering an area of 6,500 sqm, VoltAir is a landmark property with five separate entrances and two imposing lobbies that open out onto the spacious, verdant inner courtyard. The property comprises around 30,000 sqm of state-of-the-art rental space on the ground floor and seven upper storeys. The interior's open-plan loft-style design, with its exposed concrete surfaces and technical installations, offers huge scope in terms of architectural flexibility. Numerous balconies and terraces, covering an area of over 2,000 sqm, wrap around the outer and inner courtyard facades. Three roof terraces, each with an area of 100 sqm, offer impressive views of the surrounding area, adding an elegant finishing touch to the architecture. The underground car park provides parking space for more than 90 vehicles. A number of suburban railway and underground stations as well as bus stops can be easily reached within a radius of just 200 metres. 21,000 cubic metres of concrete and 4,000 tonnes of steel were used in the construction of the complex. Construction works started at the end of 2018. VoltAir has been awarded a LEED “Gold” certificate and a WiredScore “Gold” certificate. Completion is scheduled for summer 2022.