Squire Patton Boggs has advised the Luxembourg real estate fund Optimum Evolution Fund SIF on the acquisition of three real estate assets in Berlin. In addition to the well-known Kempinski Plaza on Uhlandstraße, two residential and commercial properties located on Brandenburgische Straße and Berliner Straße were acquired from a private investor.
Kempinski Plaza, which is located near Kurfürstendamm in the borough of Charlottenburg-Wilmersdorf, consists of 10,000 m² of rental space with apartments, office and retail facilities, and 190 underground parking spaces. The building, constructed in 1992, is connected to Hotel Kempinski Bristol by a passageway. The tenants include a prominent hairdressing chain, an electronics manufacturer as well as a furniture store.
In addition to Kempinski Plaza, Optimum Evolution Fund SIF acquired a property on Brandenburgische Straße with approx. 2,000 m² of rental space, consisting of three commercial and 26 residential units. The third property is located on Berliner Straße and consists of 25 apartments and two commercial units, likewise covering a total area of approx. 2,000 m².
Optimum Evolution Fund SIF is a Luxembourg real estate fund with offices in Luxembourg, Berlin, London and Miami. It invests in, amongst other things, residential and commercial real estate in Germany and the USA.
The property management for the three Berlin assets will be provided by EB Group. The EB Group offers a full range of services in the real estate sector. Since its establishment in 2000, the company has been managing varied real estate portfolios of German and international investors and real estate funds. The funds that it oversees are investment companies with variable share capital, concentrating on investments in residential and commercial property in Berlin and the surrounding area as well as in Dresden.
The Squire Patton Boggs team in Berlin advising Optimum Evolution Fund SIF, was led by partner Dr. Christian Bleschke, and included Michael Langer, senior associate in Tax, Siegfried Etzkorn and Dr. Elmar Bickert, senior associates in Real Estate.