Luxembourg-based real estate company Vivion Investments has agreed to acquire two segments of the Quartier Heidestrasse (QH) project in central Berlin from Germany-focused real estate investment company Aggregate Holdings for €456 million.
The assets are located only ten minutes walking distance from Berlin’s famous government district.
The acquisition of QH Core has been completed, while the closing of QH Spring is subject to certain CP’s.
”Following the completion of the transaction, Aggregate has settled all outstanding positions with Vivion,” said Vivion in a statement.
The total GAV for the two assets combined is approx. €456 million. The purchase price of ca. €220 million will be settled with the position of 5.5% 2024 Aggregate Bonds that Vivion holds.
“This acquisition is in line with our company’s strategy of acquiring high quality, income producing assets in prime locations in Germany top tier cities” Vivion’s CEO Sascha Hettrich said.
“We are very pleased with the addition of these assets to our portfolio that increases our footprint in Berlin. In addition, we continue to see strong performance across all of our portfolio and stability throughout, despite turbulent times”.