Union Investment has sold the office building Alfandary Haus to BWG Berlin Wall GmbH
Union Investment Real Estate GmbH (Union Investment) has sold Alfandary Haus to BWG Berlin Wall GmbH (BWG). Financial details have not been disclosed.
Alfandary Haus is a remarkable office building in the center of Berlin, near the legendary Checkpoint Charly. The six-story listed brick building is fully let to well-known tenants such as UNHCR, firststars GmbH and TLC AG.
BWG is a real estate investment company based in Berlin. Created as a proprietary investment vehicle in 2005, the firm offers a wide range of services typical of larger real estate fund management companies. BWG's services are targeted at professional investors who are looking to gain an exposure to the German real estate market, without having to be actively involved in the management of their investment.
Union Investment Real Estate GmbH is one of Europe's leading property Investment management companies. The firm combines over 45 years of asset management with capital market expertise within the dynamic Union Investment group. As one of the sector´s biggest players, Union Investment currently has assets under management of approximately US$26 million. The group portfolio comprises some 319 prime properties in outstanding locations in the world´s major cities.
Oaklins' team in Germany advised the seller on the whole transaction process. This included structuring the asset deal, providing a complete analysis of the real estate market and its characteristics, approaching national and international potential investors, and negotiating the sale contracts.
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