Quest Investment Partners has sold Emmler Lofts, a historic office and retail property in Berlin-Kreuzberg, to Patrizia.
The parties agreed not to disclose the purchase price.
Quest had taken over the property at Kottbusser Damm 25-26 in May 2019. It has since been fully refurbished and has received the BREEAM certification “very good”.
Comprising a total area of ca. 6,000 m2, the property has been re-let to Aurora Energy Research and the tech start-up company kollex, amongst others. Historical anchor tenant Woolworth remained in the building, continuing the operations on the ground floor of the asset which began in 1928.
“The property enjoys a very good micro-location in the up-and-coming “Kreuzkölln” district and is a prime example of how the successful refurbishment of an existing building can sustainably transform it in the long term while preserving its monumental character. This has resulted in spacious, loft-like offices with historic details such as decorative columns, stucco ornaments and ornate steel doors”, said Luis Walther-Kraft, Chief Investment Officer at Quest Investment Partners.
The restored historical details also include the decorative statues on the façade, the wooden double casement windows and original Art Nouveau ornaments. The building was constructed as a furniture factory in 1906.
It is located in the immediate vicinity of Volkspark Hasenheide and offers excellent public transport connections. A variety of modern, urban restaurants can be found close by.