QUEST Investment Partners sells Emmler Lofts in Berlin to Patrizia
Hamburg, 9 May 2022 – The project development and investment company QUEST Investment Partners has sold the historical office and retail property Emmler Lofts in Berlin-Kreuzberg to Patrizia. The parties agreed not to disclose the purchase price. QUEST had taken over the property at Kottbusser Damm 25-26 in May 2019. It has since been fully refurbished and has received the BREEAM certification “very good”. Comprising a total area of ca. 6,000 m2, the property has been re-let to Aurora Energy Research and the tech start-up company kollex, amongst others. Historical anchor tenant Woolworth remained in the building, continuing the operations on the ground floor of the asset which began in 1928.
“The property enjoys a very good micro-location in the up-and-coming “Kreuzkölln” district and is a prime example of how the successful refurbishment of an existing building can sustainably transform it in the long term while preserving its monumental character. This has resulted in spacious, loft-like offices with historic details such as decorative columns, stucco ornaments and ornate steel doors”, says Luis Walther-Kraft, Chief Investment Officer at QUEST Investment Partners. The restored historical details also include the decorative statues on the façade, the wooden double casement windows and original Art Nouveau ornaments. The building was constructed as a furniture factory in 1906.
It is located in the immediate vicinity of Volkspark Hasenheide and offers excellent public transport connections. A variety of modern, urban restaurants can be found close by.
Colliers International Germany acted as broker in the transaction. QUEST Investment Partners was advised on legal matters by Capstone Legal and on tax matters by Hansa Partner Rommel & Meyer. Gleiss Lutz provided legal and tax advice to the buyer.
About QUEST Investment Partners
QUEST Investment Partners is an owner-operated real estate investment company. Its offices are located in Hamburg, Berlin, Munich and Frankfurt. With a portfolio of around €3.4 billion in assets under management, the company which is a signatory to the UN Principles of Responsible Investment focuses on investments in commercial properties with upside potential in selected locations of major German cities. QUEST Development develops and finances high-quality
Fully refurbished Emmler Lofts, constructed as a furniture factory in 1906
Copyright: Image Agency
