Berlin, 24 April 2020 – Henderson Park has acquired four of the twelve buildings of the iconic “Quartier Schützenstraße” in Berlin-Mitte from Caleus Capital Partners. For Henderson Park, this transaction represents the third investment in Germany within the last twelve months, where the private equity investor currently manages assets of over € 500 million. The deal was advised by Stoke Park Capital.
The remarkable building, which was constructed in 1998 to the plans of architect Aldo Rossi, still stands out with its bright colours more than twenty years after its construction. This is due to the building materials used: for one of the facades, for example, green sandstone brought to Berlin from Northern Italy was used.
TA Europe carried out the entire technical due diligence for Henderson Park – which had already commissioned TA Europe for other projects – for the four buildings, which cover a total area of 23,000 sqm and are now mainly used as offices. The scope of services included the review of all relevant technical documentation, the detailed examination of the properties on site and the final valuation, as well as cost estimates for the planned revitalisation measures.
One third of the building space was recently leased for a period of ten years to the German Federal Agency for Real Estate Tasks (Bima), which made the buildings available to the Ministry of Food and Agriculture. The remaining space is leased on a short-term basis. Henderson Park is planning further investments in the properties.
Lawrence Wainwright, Partner at TA Europe, says: “It was a great pleasure for us to accompany Henderson Park on this exciting transaction, and thus – after our work for Henderson Park in the area of project management in Munich – to be able to become active for them in Berlin as well”.
Robert Hellerschmied of Henderson Park adds: “TA Europe, with their expertise in technical due diligence, has provided us with the best possible support in bringing this strategically important transaction to a close and thus expanding our portfolio in Germany.”