Generali Real Estate has completed the acquisition of the high-quality office building Weidt Park Corner in Berlin, on behalf of the pan-European fund Generali Europe Income Holding (GEIH) managed by Generali Real Estate S.p.A Società di gestione del risparmio. The seller of the asset is DWI Group, a renowned developer based in Hamburg.
The eleven-storey Weidt Park Corner building comprises around 12,600 sqm and is located as a landmark on Otto-Weidt-Platz, the most central spot in Berlin’s emerging Europacity district. Designed by the Staab Architekten studio, the building offers modern office spaces, as well as a restaurant, lobby and showroom on the ground floor. It has been recently completed by the general contractor Hochtief, and is fully let to “Die Autobahn GmbH des Bundes” for their headquarters, hosting around 700 employees.
Perfectly representing Generali Real Estate’s commitment to sustainability, Weidt Park Corner is characterized by high-level wellbeing and sustainability standards, thanks to its proximity to amenities and services, such as the ideal connection to the public transport network and the presence of a bicycle parking. It also features planted roofs, and plenty of green areas in the immediate surroundings. Besides, its advanced energy performance standards and efficiency gained it a LEED Gold pre-certification, which was confirmed by the Generali Real Estate in-house assessment tool, based on BREEAM standard, achieving an Excellent score.
The acquisition is fully in line with Generali Real Estate’s strategy of investing in prime office and high street retail assets in the most important and resilient European cities such as Berlin, and confirms the relevance of the German market in the company’s investment strategy. In Germany, Generali Real Estate currently manages a portfolio of 230 properties, worth about € 4.5 bn.
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