GSK Stockmann advised Berlin-based Cresco Real Estate on the acquisition of an office complex in Weissensee in the Berlin district of Pankow.

A team led by partner Martin Prothmann provided Cresco with comprehensive advice on the acquisition of the office building.

Cresco Real Estate and its joint venture partner Tikehau Capital are acquiring the 30,000 sqm office complex in the Berlin neighbourhood of Weissensee from a private individual as part of an off-market transaction. Built in 1998, the property is located on DGZ-Ring in Berlin-Weissensee and is fully let to the German Institute for Federal Real Estate (BImA).

As a joint venture, Cresco and Tikehau intend to jointly invest in measures to make the existing property more sustainable in line with the EU taxonomy, including improving the energy efficiency of the property.

Advisers of Cresco Real Estate at GSK Stockmann:

Martin Prothmann (lead, Real Estate Transactions & Investments), Pascal Franke (Real Estate Transactions & Investments), Frank-Florian Seifert (Public Building Law), Anton Godt (Public Building Law).