BlueRock Group acquires Berlin office property from Schroders

Real estate investment firm BlueRock Group has purchased an office building in Berlin-Pankow from Schroders for an undisclosed price.

Ronnie Pifko - © BlueRock Group

The property, located on Storkower Straße, was built in 1965, last updated in 1994, and offers approximately 16,500 m2 of space. It is fully leased to a German federal government agency, with about eleven years remaining on the lease and an option to extend for another five years.

The building benefits from excellent public transport links, including the nearby 'Landsberger Allee' S-Bahn station and stops for bus routes 156 and 200.

Ronny Pifko, CEO of BlueRock, said: “In a highly competitive market, speed and clarity are key. We moved quickly to secure this attractive, strategically well-positioned property with a stable tenant profile. At the same time, the property gives us the opportunity to deliver on our sustainability goals here. We have already planned a programme of measures, which will also improve the working environment for staff, and these will be implemented in the coming months.”

Nils Heetmeyer, managing director of Schroder Real Estate KVG, added: “With the sale of this long-term let office property, we have delivered further value for our fund. The property stands out thanks to a stable tenant profile and attractive lease terms, which made it straightforward to sell even in a challenging market. At the same time, it was important to us to find a buyer who would develop the property responsibly over the long term. With BlueRock, we have done exactly that.”

HEUSSEN Rechtsanwaltsgesellschaft provided legal advice to BlueRock, while GSK Stockmann advised Schroder Real Estate. MB Advisors acted as technical consultants, and BNP Paribas Real Estate brokered the deal.