QUEST Investment Partners develops iconic landmark in Berlin

Forward deal: KanAm Grund acquires property for LEADING CITY INVEST

QUEST Investment Partners develops iconic landmark in Berlin

Forward deal: KanAm Grund acquires property for LEADING CITY INVEST
150 150 QUEST Investment Partners

QUEST Investment Partners develops iconic landmark in Berlin
Forward deal: KanAm Grund acquires property for LEADING CITY INVEST

Hamburg, 4 June 2020. The project devel­opers at QUEST Investment Partners have sold a presti­gious commercial property in Berlin with 4,000 m² of office space to KanAm Grund Group as part of a forward deal. The property will become part of KanAm’s open-ended real estate fund ‘LEADING CITY INVEST’. The tradi­tional Kontorhaus building at Charlot­ten­straße 82 is a true classic and features a listed, sculp­tured façade. It was designed for Iduna Versicherung in 1913 by the architect Paul Mebes, a member of the Prussian Academy of Arts. QUEST Investment Partners acquired the iconic seven-storey landmark in Berlin’s Kreuzberg district at the end of 2019. “Thanks to the good location, superb archi­tec­tural design by Paul Mebes and our refur­bishment concept, we were able to find a suitable tenant for the entire building in a very short time. At the same time, we succeeded in selling the property as part of a forward deal with a building oblig­ation,” explains Jan Rouven Künzel, Managing Partner at QUEST Investment Partners. The parties agreed not to disclose the sales price.

Monument protection meets contem­porary elements
The imple­men­tation of the planned measures for the renamed C82 will begin in the third quarter of 2020. The building is expected to be ready for occupancy by autumn 2021 at the latest. The refur­bishment concept was elabo­rated in cooper­ation with the archi­tecture and consulting firm CSMM and comprises the common areas with a redesigned entrance foyer as well as the historical stair­cases and parts of the office areas. The walls and ceilings are decorated with high- quality wooden slats in organic shapes. This new design element generates a fasci­nating spatial dialogue with the historical building, creating a new, holistic appearance. In the foyer, the new design elements will provide a delib­erate contrast to the rectan­gular historical building stock. The façade of the listed courtyard with its restored glazed clinker bricks and red terra­cotta ornaments will be treated and cleaned – both the material and the colours will lend it a very special flair. In addition, the building, which was renovated in 1998 in line with the standards of monument preser­vation, will receive modern technical equipment and new heating and cooling systems. As part of the refur­bishment, the aim is to reach the highest possible level of sustain­ability certi­fi­cation.

Further infor­mation about the devel­opment of this project can be found at www.c82berlin.de

Savills acted as inter­me­diary in the purchase of the property (asset deal) in December 2019 through a struc­tured bidding process and in the current sale. Hansa Partner Rommel & Meyer provided tax advice to QUEST Investment Partners during the trans­action; Greenberg Traurig LLP acted as legal adviser in the purchase, Jebens Mensching PartG mbB in the sale. The rental arrange­ments were handled by BNP Paribas.

About QUEST Investment Partners
Founded in 2016, QUEST Investment Partners is an investment and project devel­opment company with offices in Hamburg, Berlin and Frankfurt. QUEST focuses on invest­ments in commercial properties with upside potential in top locations of major German cities and the Benelux countries. The team has extensive experience in the devel­opment of high-quality real estate projects. QUEST Funds is in charge of the fund business of the real estate company and makes individual invest­ments in cooper­ation with insti­tu­tional investors. The share­holders of QUEST Investment Partners are the managing directors Theja Geyer and Jan Rouven Künzel as well as the investment holding company of the Hamburg entre­preneur Erck Rickmers.
www.quest-investment.com

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