Coros, an integrated real estate company focusing on office properties and mixed-use concepts in German and European metropolitan areas, has acquired an office property in Berlin Schöneberg for the Commodus Deutschland Fund II ScSp, RAIF. Seller is a Luxembourg-based real estate fund managed by Northern Horizon Group. Catella brokered the purchase of the building.
The multi-tenant property, built in 1998, is located at Bessemerstraße 82 and has a total leasable area of around 11,000 square meters. The nearby S-Bahn and long-distance train station Berlin-Südkreuz as well as the connection to the city highway A 100 provide easy access to Berlin’s main train station, the BER airport as well as other Berlin districts.
Coros is planning to extensively modernize the building. The flexible building floor plan allows for the implementation of modern open-space office concepts by combining individual spaces designed to meet New Work requirements. This also includes upgrading the outdoor areas, for example by creating a spacious outdoor area in an attractive backyard location. In the future, this will offer a high quality of stay for all tenants. In addition, the entrance area will be redesigned. Coros is pursuing an ESG concept in all of these conversion and expansion measures. Around 95 percent of the building are currently leased to over 40 tenants.
“The striking high-rise building as well as its location in an attractive, multicultural district of the capital, meets all the requirements for a unique real estate brand. Both green spaces such as the Schöneberger Südgelände and Tempelhofer Feld as well as cultural institutions such as the Malzfabrik or the UFA-Fabrik are located in the vicinity of our property and make up the right mix for a livable, urban space”, says Leonhard Sachsenhauser, Founding Partner Coros. Paul Sattlegger, Managing Director of Coros adds: “We want to position the building as a dynamic and cultural office hub in this submarket and thus leverage its urban potential. In addition to future-proof New Work space concepts with a high proportion of communicative communal areas and different working landscapes, this also includes a sustainable modernization of the building”.
The purchase is part of Coros’ growth strategy: back in June the company made its first acquisition in Munich with the office property “Gustav”. Further transactions in Germany and Europe are already in the pipeline and are planned to be realized this year.
Wegnerpartner, Mocuntia Real Estate Advisors (Technical), Kapellmann and PKF (Tax) acted as advisors in the transaction.
