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Office building sold to BlackRock

Frankfurt/Berlin, 02. Oktober 2019 - cds und Wulff Wohnbau Projekt Thaerstraße GmbH has signed a contract with BlackRock Real Assets for the construction of an office building on the site of the former "Alter Schlachthof" development area in Berlin-Prenzlauer Berg. The buyer is a fund managed by BlackRock Real Assets.

A contemporary new office building with approx. 11,000 m² of office space is being built on a plot area of 3,294 m². The building permit is available. Construction is expected to start in the second quarter of 2020. The office building is scheduled to be handed over at the end of 2021. BlackRock Real Assets will be responsible for marketing the space.

The development concludes the district development "Mein Prenzlhain". The joint project of the cds Wohnbau Group and the Otto Wulff Group is building residential buildings with owner-occupied and rental apartments as well as office buildings on a plot area of approx. 14,000 m².

Björn Rasche, responsible acquisition manager at BlackRock Real Assets, comments: “With this acquisition, we are consistently continuing our investment strategy for Berlin, which focuses on modern office properties in transformative locations. Due to its direct connection to the S-Bahn ring, this location is easily accessible. The 'Alter Schlachthof' area has changed very positively in recent years due to urban planning impulses. We look forward to being able to market modern, contemporary office space in an urban environment to users in the near future.”

The joint project of the project developers cds Wohnbau Berlin GmbH and Otto Wulff Projektgesellschaft GmbH makes an important contribution to the urban planning concept of the development area at the "Alten Schlachthof" and closes one of the last remaining vacant lots at the site. The entire quarter is 100% sold. Two more office buildings were sold to social organizations. The Bundesvereinigung Lebenshilfe e.V. will set up its office here at the seat of government. The BTZ Berlin of the Berufsförderungswerk Berlin-Brandenburg e.V. Training rooms for the vocational rehabilitation of people with mental disabilities.