- Real I.S. has acquired the office and residential building complex ‘Eiswerk’ from the Berlin developer Trockland.
- TA Europe carried out the complete technical due diligence on behalf of Real I.S. and provided extensive ESG analyses, including checking green building certifications’ requirements.
Berlin, 15 June 2022 – The ‘Eiswerk’, a historic building complex, has changed hands – after having been substantially converted: The two listed existing buildings of the former ‘Norddeutsche Eiswerke’ had been renovated by the developer Trockland, who added two new buildings and completed the project in May. TA Europe acted as the technical advisor on behalf of the investor Real I.S., who acquired the whole building ensemble for a fund of the ‘Bayerische Versorgungskammer’.
The ‘Eiswerk’ ensemble is located in the district of Berlin-Mitte, the historic ‚Luisenstadt‘, approximately 2km south-east of Berlin’s historic city centre on the border to Berlin’s Kreuzberg district. Artificial ice had been produced in the ice factory since 1896 – at a time when refrigerators did not yet exist. The production of ice continued until the mid-1990s. After that, plans called for the remaining buildings to be demolished. However, luckily the buildings were converted and put to new use.
Nowadays, the offices – one located in one of the new buildings, the others in the renovated buildings – are home to the tenant’s Trade Republic and the coworking provider Techspace. The residential buildings offer 54 apartments altogether, reflecting current trends for living.
The scope of TA Europe’s services covered the detailed review of the relevant technical documentation in the data room, site inspections of the properties and the thorough technical risk appraisal as part of the reporting as well as substantial assistance during the hand-over process.
TA Europe’s ESG analysis included a Status quo assessment of the Eiswerk asset regarding defined ESG criteria. Within this analysis, TA Europe also included specific topics that specifically had been requested by the client REAL I.S. to fulfill their company requirements. As another part of the ESG report and to give some ideas for even further optimisation, TA Europe also identified possible improvement measures for the building ensemble.