Berlin: Warburg-HIH buys office building from Quest
Warburg-HIH Invest Real Estate has acquired the “Element B” office building in Berlin’s Wedding district for a real estate spezialfonds. The building, located at Brunnenstraße 128, was built in 1992. It has 6,126 sqm of lettable space and 69 underground parking spaces. The seller is Quest Investment Partners, which acquired the property in 2017 as its first investment in Berlin, and which is currently still carrying out comprehensively modernization measures. The building is currently 93% let; tenants include the Hermes Logistic Group company Liefery, Degewo, Deutsche Welle and the human rights organisation Terre des Femmes. Warburg-HIH states that the leases’ average remaining term is 8.2 years.
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