New York-based investment fund HighBrook has acquired two offices in Berlin in off-market deals as it continues its expansion in Germany.
The real estate private equity fund revealed that it signed for the properties in Berlin Mitte in November and December of last year, bringing its deals in the German capital to €200 mln in 2019.
All four investments made last year were office properties with value-add potential, acquired on behalf of HighBrook’s third fund, HighBrook property fund III.
The latest assets comprise Littenstrasse 109, a monumental office building that was constructed in the early 20th century with 10,000 m2 of floor space. Alt-Moabit 72, a loft office property, is located in the Moabit district with 4,000 m2 of floor space.
Highbrook's third fund invests primarily in commercial use properties, with a focus on office, and is currently most active in Amsterdam and Berlin. Overall, the fund pursues a value-add strategy and has a target investment volume of around €1.5 bn.
On the Alt-Moabit asset, HighBrook was advised by Angermann in Berlin.