German pension fund BVK is acting with asset managers to invest in a Berlin ‘smart’ office based in the city’s developing tech district.
The fund, which provides pensions to public sector workers, is involved with Allianz Real Estate and several other Allianz businesses and with the asset manager Universal-Investment in the acquisition of Edge East Side Berlin.
On its completion in 2023, the building will be one of the most hi-tech in Berlin, said Allianz RE.
The firm made the acquisition for the group of investors and will manage the 35-storey building.
Edge, a property developer specializing in sustainable property, developed the building, which uses smart technology to place “tenant well-being and sustainability” at its core.
Allianz RE has an existing relationship with Edge and in July acquired Edge HafenCity Hamburg.
Edge East Side Berlin is in the Mediaspree sub-market of Berlin, which has become a “sought-after, fast-growth location seen as a strong alternative to Berlin’s central business district, especially from the tech sector looking for assets with modern features and larger floor plates”, said Allianz RE.
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