Tristan Capital Partners’ latest opportunity fund EPISO 5 and CMF Capital, a Berlin and Koblenz-based developer and investor, have acquired a development site in Berlin, located at Neukoelln district for around €15 million from the Eversfrank Group, a family-owned commercial printing company.
The site will be redeveloped to create around 30,000 square metres of office and commercial space for an estimated total investment of about €100 million.
The 12,000 square metre plot is located in Ballinstrasse, a short walking distance from Karl-Marx-Strasse, cross-city underground services and the German capital’s A-100 motorway.
The new development, “Ink”, which stands for “Inspire Neukoelln”, will be designed to meet the requirements of modern office and commercial tenants, also achieving green certification standard.
“Our plan is to create an outstanding office and commercial centre just to the southeast of Neukoelln; an area that has seen rapid improvement in recent years. Ballinstrasse has excellent public transport links and offers easy access via the cross-city motorway to the business districts in west and east Berlin, just a 10 minute drive from Mediaspree following current A100 works, and a 15 minute drive from Berlin’s new airport at BER. We believe that ongoing extension works to the existing motorway will further strengthen these connections and place “Ink” at the heart of the capital,” said Benjamin Berman, Director at CMF Capital.