Ivanhoé Cambridge acquires Alte Post Quartier in Berlin, a mixed-use real estate complex of over 16,000 m²

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Ivanhoé Cambridge has acquired Alte Post Quartier, a mixed-use inner-city project in Neukölln, a bustling borough in Berlin. The asset of over 16,000 m² comprises offices (the vast majority of which have already been fully renovated), new residential apartments (currently under construction) and services such as a restaurant, a gym and storage facilities. Commodus, co-investor in the transaction, will act as asset and development manager, overseeing the project. In line with Ivanhoé Cambridge’s commitment to revitalize neighbourhoods and create unifying spaces where occupants can live, work and play, Alte Post Quartier is located in the centre of Berlin Neukölln, a fast-growing cosmopolitan area that has seen considerable development in recent years. The district is a popular choice for young executives, who appreciate its wide variety of housing, jobs, retail and leisure offerings in a vibrant and international neighbourhood. Alte Post Quartier’s flexible amenities should be attractive to the changing needs of tenants, whose preferences have altered significantly since the beginning of the pandemic. The Alte Post Quartier complex consists of: An elegant heritage building of nearly 9,000 m² that originally hosted post offices, which was entirely renovated in 2019 and converted into modern workspaces suited to new uses, with high ceilings, comfortable common areas and several patios and roof top terraces. With the office space already fully let, the future usage mix will add a restaurant, a gym and storage facilities. An office complex of nearly 4,000 m², currently being renovated and already partly leased. A residential building of more than 4,000 m², which is in advanced stages of construction. Scheduled for completion in 2022, it will feature 76 apartments, including 15 wood-construction penthouses on the uppermost floors with large patios, offering high-end amenities. A substantial number of the apartments will be reserved for students and young professionals, contributing to the overall vitality of the district. false false false In this transaction Ivanhoé Cambridge was advised by Clifford Chance on legal matters, CBRE on valuation, KPMG on tax and accounting matters, and KVL on technical aspects. false false false About Ivanhoé Cambridge Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generating long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint. Ivanhoé Cambridge invests alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,000 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$64 billion in real estate assets as at December 31, 2019, and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com/en), one of Canada’s leading institutional fund managers. For more information: ivanhoecambridge.com. About Commodus Commodus is a private equity investor focusing on real estate in selected German and European cities. The investment and asset management strategy focuses on contemporary office-of-the-future concepts and urban mixed-use properties. Through its portfolio company "Bayerisches Immobilien Kontor" (BAYIKO), Commodus is also involved in residential development with products that address the changing demands of living. Commodus, as an investment platform with dedicated in-house asset management and development expertise, offers both institutional investors and family offices access to investment opportunities in the core+ / value-add sector. The current real estate portfolio managed by Commodus exceeds €1.5 billion (AuM).