Berlin: AEW buys office complex from Becker & Kries
AEW has acquired the 15,900 sqm office and business complex “B5” in Berlin’s Wilmersdorf district. The eight-story complex, located on Blissestraße, involves four interconnected buildings comprising 12,300 sqm for office use and 3,000 sqm for retail use. The complex was built in 1971, modernized for the first time in 1996. It is 99% let. The seller is Becker & Kries, which is currently revitalizing about half of the complex. AEW is acquiring the “B5” for its Spezialfonds “AEW City Office Germany” which, with this acquisition, is now fully invested and managing around €345mn in real estate assets. AEW was advised by Greenberg Traurig; SKW Schwarz Rechtsanwälte and CBRE advised the seller.
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