Allianz Real Estate Germany buys Markgrafenpark in Central Berlin (DE)
Friday 11 May 2012
Allianz Real Estate Germany GmbH has continued its investment in central Berlin. The purchase of Markgrafenpark ensemble – an office complex comprising eight buildings near Friedrichstrasse in central Berlin – was finalized last week.
Allianz Real Estate Germany bought Markgrafenpark on behalf of the German Allianz insurance companies for around €80 million.
The modern offices making up Markgrafenpark were built in 2003-05. The main tenants accounting for 85% of the 40,000 m² of floor space are JobCenter and insurance company BKK Verkehrsbau Union. The remaining 15% is let to a variety of small tenants.
“Markgrafenpark gives tenants an ideal combination of location and price,” explained Stefan Brendgen, CEO of Allianz Real Estate Germany GmbH.
“Our tenants benefit from not just the proximity to Friedrichstrasse, one of Berlin’s prime locations, but also the affordable rents. Following the purchase of Friedrichstrasse 200 and Q 207, also on Friedrichstrasse, we are now able to offer our tenants central, high-class office space in Berlin in any quality and rental price segment.”