Hamburger Sparkasse secures €100m for Berlin life science hub

Hamburger Sparkasse is providing over €100 mln in financing for the Berlin CGT project, a major life science development in Europe. 

iQ space Berlin-Mitte

This project, with a total volume of €200 mln, is a collaboration between developer iQ spaces, UBS Asset Management, Bayer, Charité – Universitätsmedizin Berlin, and the Berlin Institute of Health.
Scheduled for completion in 2028, the Berlin CGT project is part of the Bayer Open Innovation Campus, located near Berlin Central Station. It will be a ten-story innovation centre spanning about 20,000 m2, offering modern research and laboratory space for biotechnology and life science companies. The aim is to foster collaboration between science, clinical practice, and industry.
Already, long-term leases have been secured, including 4,400 m2 for the Bayer Co.Lab, a biopharma startup incubator, and 6,500 m2 for Gene and Cell Therapies Incubator Berlin, a joint venture between Bayer and Charité. The project's architectural design is by Henn, with project management by SMV and construction by Wolff & Müller.
Vincent Wege, managing director of iQ spaces, stated: “The Hamburger Sparkasse has been a reliable financing partner for our group of companies for many years. We are therefore particularly pleased that they are once again supporting us on this project and enabling the realisation of this forward-looking development. With project Berlin CGT, one of the largest life science projects in Europe is being created — strengthening Berlin’s position as an international science hub and providing space for innovation and research.” 
Greenberg Traurig and DLA Piper served as legal advisors for the project. JLL provided support for both the commercial due diligence and the project's financing efforts.