02 Oct 2013

Tristan Fund and Caleus Sell Berlin’s Tallest Office to a Japanese Institutional Investor For €65 Million After 2 Year Turnaround

Source: Tristan Capital Partners Press Release

London - Berlin’s tallest office building, the main tower in the Treptowers complex, has been sold to a Japanese institutional investor for €65 million, just two years after it was acquired by EPISO, an opportunistic fund advised by pan European real estate investment manager Tristan Capital in conjunction with German investment manager Caleus.

Rui Tereso, Partner, Head of Portfolio and Asset Management of Tristan Capital Partners, EPISO’s lead portfolio manager, said:  “Our work in repositioning the property by improving the overall quality of the building and tenant profile, combined with a buoyant market for core office product, allowed us to secure significant outperformance for our clients well ahead of our original business plan.  It is another success with local partner Caleus with whom we have done a number of transactions in Germany over the last ten years.”

A limited office development pipeline in the German capital and strong demand, underpinned by technology company start-ups, have supported the Berlin market since EPISO’s investment in 2011.

The 125-metre high listed tower contains around 35,000 m2 of space and is part of a four-building office complex on the Martin-Hoffmann-Strasse beside the River Spree in southeast Berlin.  Its main tenant is a German federal agency. The rest of the complex is not included in the purchase.