Schönefeld Airpark provides more than 80,000 sq m of space let to seven tenants
Located 1 km from the new Berlin Brandenburg Airport to the south east of Berlin
PATRIZIA acquired the site in 2014 and completed the final phase of development in Q4 2020
Augsburg / Berlin, 18. November 2020. PATRIZIA AG, a leading partner for global real assets, announces the sale of Schönefeld Airpark in Berlin, Germany, to CBRE Global Investors.
PATRIZIA acquired the site, which is located 1 km to the north the new Berlin Brandenburg Airport in Schönefeld, in 2014 and has constructed more than 80,000 sq m of lettable space across four phases alongside development partner, Verdion Group. The units range in size from 5,000 sq m to 20,000 sq m.
The site is multi-let to seven tenants including Dachser logistics and Bringmeister, the food delivery service of Edeka. PATRIZIA's asset management team carried out leasing activity in conjunction with Verdion and achieved full letting on the completion of each speculative phase over the development. The final phase was completed in Q4 2020.
Stuart Reid, Managing Director of Real Estate Development at PATRIZIA, commented: 'Together with our development partner we have created a significant Grade A logistics hub that has validated our conviction for a speculative development in an area that now benefits from the opening of Berlin's new airport. Our expert asset management team successfully leased this space as it came on-line and we are pleased to crystallise returns on behalf of our investors that significantly outperform our business plan for this asset.'
PATRIZIA's European logistics portfolio stands at over EUR 5 billion and represents around 11% of total AUM.
PATRIZIA was advised by BNP.
PATRIZIA: A leading partner for global real assets
As a company with operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 36 years. PATRIZIA manages more than EUR 46 billion in assets and employs over 800 professionals at 24 locations worldwide. Through its PATRIZIA Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped over 220,000 children in need worldwide over the last 20 years. You can find further information at www.patrizia.ag
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