HighBrook Investors buys two additional office properties in Berlin
HighBrook Investors (HighBrook), a real estate private equity firm, acquired two office properties in Berlin Mitte in November and December of 2019.
Littenstrasse 109 is a monumental office building that was constructed in the early 20th century with c 10,000 sq m of floor space, which HighBrook acquired in a joint venture with an affiliate of the BATO Group, a Berlin-based investment and asset management company. Alt-Moabit 72, a loft office property, is located in the Moabit district with c 4,000 sq m of floor space. HighBrook acquired both assets through off-market transactions.
HighBrook acquired a total of four properties worth c EUR200 million in Berlin in 2019. These office properties, all with value-add potential, were acquired on behalf of HighBrook’s third fund, HighBrook Property Fund III. The fund invests primarily in commercial use properties, with a focus on office, and is currently most active in Amsterdam and Berlin. Overall, the fund pursues a value-add strategy and has a target investment volume of around EUR1.5 billion.
On the Alt-Moabit asset, HighBrook was advised by Angermann in Berlin. The Littenstrasse 109 asset will continue to be asset managed by the BATO Group.