Commerz Real buys office tower in Berlin

Commerz Real buys office tower in Berlin

Commerz Real has acquired the Mynd high-rise office building currently under construction and the Galeria Weltstadthaus store on Berlin’s Alexanderplatz from Signa Prime for its open-ended real estate fund Hausinvest. 

 The 134-metre-high Mynd office tower will comprise a total of 32 floors and 32,000 square metres of office space. The project also includes an existing Galeria Weltstadthaus.

So far, Commerzbank’s real assets subsidiary held a 20 percent stake in the complex. After completion in 2025, the entire ensemble should have more than 100,000 square meters of rental space. 

Signa Prime also acquired the 20 percent stake in eight department store properties from Hausinvest that the fund had held since 2019. These are three of the premium brand “Galeria Weltstadthaus” at the Hauptwache in Frankfurt am Main, Königsallee 1-9 in Düsseldorf and Hohe Straße in Cologne as well as the houses at Am Wehrhan 1 in Düsseldorf, Rotkreuzplatz / Pötschnerstrasse 5 in Munich, Remigiusstrasse 20 in Bonn, Ernst-August-Platz 5 in Hanover, and Kurpfalzstrasse P1 in Mannheim. 

Both sides have agreed not to disclose the purchase prices. 

The partnership in the joint Elbtower project in Hamburg remains unaffected by this transaction. In 2022, Hausinvest had a 25 percent stake in the mixed-use high-rise building currently under construction. After completion at the end of 2025, the landmark property will be the tallest building in the Hanseatic City of Hamburg at 244 meters. 

The transaction in Berlin is still subject to approval by the Federal Cartel Office. 

”Thanks to its absolutely central location and superb connections from a logistical stance, as well as its modern office areas and diverse possibilities for usage, ‘Mynd’ will be the new highlight in central Berlin. For this reason we have decided to acquire the entire construction project for our investors, and together with Signa as the project development partner realise Berlin’s most sustainable high-rise property,’ said Mario Schüttauf, the Hausinvest fund manager.

Timo Her­zberg, CEO Signa Real Estate added: “With the Elbtower in Hamburg’s HafenCity and now Mynd at Berlin Alexanderplatz we are realising what are probably two of Germany’s most outstanding high-rise developments together with Commerz Real.”

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