HighBrook Investors and Bato Group buy a historic loft office campus in Berlin in an off-market transaction
HighBrook Investors (“HighBrook”), a real estate private equity firm, and an affiliate of BATO Group Real Estate Investments GmbH (“BATO Group”), a Berlin-based investment and asset management company, have acquired a landmark office property next to Treptower Park and within a few blocks of Berlin’s Media-Spree submarket.
Image Source © BATO Group
Schuckert Höfe, located at Am Treptower Park 28–30, is an ensemble of heritage buildings with unique character and rich industrial history that were originally constructed in the late 19th century and expanded throughout the 20th century. The property currently houses over 20,000 m2 of predominantly office floor space and has a preliminary building permit to build in excess of 10,000 m2 of additional commercial space.
Schuckert Höfe, brought back to life as an office campus and partially refurbished a decade ago by the previous owners, will undergo a further revitalization program envisaging a new master-planned office campus concept. It will include a substantial refurbishment of the existing heritage buildings supplemented by the development of new modern grade A offices, and will bring new F&B offerings and other ample on-site amenities serving both tenants and the wider community.
The new campus setting will ultimately appeal to tenants who want to be in close vicinity to Media-Spree and at the same time have a direct train and road connection to the newly opened Berlin Brandenburg Airport and enjoy direct access to the ample urban green spaces of Treptower Park.
HighBrook serves as the majority partner and BATO Group will be both a minority partner and also the asset manager responsible for implementing this revitalization program. This is a second joint venture project between HighBrook and BATO Group following an earlier joint acquisition of another landmark historic building in Berlin Mitte.
HighBrook has been an active player in the Berlin market and this marks the firm’s sixth investment in Berlin since just last year.