- Investor Real I.S. acquired two properties in Berlin at prime locations.
- TA Europe carried out the entire technical due diligence of the buildings.
Berlin, 7 April 2021 – Investor Real I.S. has acquired two properties with a total of around 18,000 sqm of office and residential space in Berlin from Patrizia. TA Europe supported Real I.S. during the purchase process with the entire technical due diligence of both properties.
The first property is located right in the centre of Berlin at Chausseestraße 117 in Mitte and consists of an office building with a total of 7,389 sqm, which will be refurbished in 2019, and a 2,067 sqm residential building with 25 flats and one retail area.
The second property is located in Berlin’s district Friedrichshain at Warschauer Straße 70 and comprises 8,584 sqm of office space. It was refurbished and extended in 2019 and 2020. Both properties are fully let to long-term tenants and will now become part of the “Real I.S. Themenfonds Deutschland II”.
TA Europe carried out the entire technical due diligence for Real I.S. – which had already commissioned TA Europe for other projects, e.g. the acquisition of the residential portfolio ‘Prime Four’ – for all of the buildings. The scope of services included the review of all relevant technical documentation, the detailed examination of the properties on site and the final evaluation of the top-notch buildings.
For Real I.S., this newly acquired portfolio represents the epitome of a core investment in the German capital, due to its prime locations and the high quality of the buildings and its interiors.
“We are glad that TA Europe supported us during the purchase process and helped us to gather and understand all relevant details for a smooth transaction”, says Ahmet Kurum, Director Technical Asset Management at Real I.S.
“We have been working together with Real I.S. on many exciting TDD projects in the past and are grateful for their ongoing trust in our expertise”, says Sebastian Frohwann, Partner at TA Europe. “We look forward to many more exciting acquisitions wherever our client plans to invest.”