OVG purchases land for development East Side Tower in Berlin
OVG Real Estate, in a joint venture with FREO, bought a 3,700 sqm site adjacent to the Mercedes-Benz Arena and in immediate vicinity to Warschauer Strasse. The property was purchased directly from the owner, Anschutz Entertainment Group.
In its leading role within the joint venture, OVG will develop “East Side Tower” to become a flagship project for innovative building and utilisation technologies. The tower will become a dedicated office highrise and stand at a height of approximately 140-meters. Targeted completion of the office highrise will be 2020.
The property is located at the intersection of Helen Ernst Strasse and Tamara Danz Strasse.
Martin Rodeck, managing director of OVG Real Estate Germany: “With the purchase of this site we are setting the next milestone for our expansion. The building will define new technology standards and offer an entirely new office space concept.”
Karsten Hinrichs, managing director of FREO: “We are glad that together with OVG Real Estate we will be able to realise an outstanding landmark, immediately adjacent to the “East Side Mall” and within one of Berlin’s most dynamic locations.”
With HumboldtHafenEins OVG has already realised the “greenest office building” in Germany defined by DGNB standards (platinum). Currently the M_EINS project is under construction alongside the banks of the river Spree in Berlin-Friedrichshain. Grand Central Berlin is another office building being developed just west of the central station.
FREO has already developed several projects in Berlin, one of which is the landmark property Kurfürstendamm 195. On the site bordering “East Side Tower” to the west, FREO is developing the shopping center “East Side Mall”, which is scheduled to open in 2018.
In the transaction OVG Real Estate has been advised by Greenberg Traurig Germany and FREO by CBRE and Freshfields.
THE COMPANY: OVG REAL ESTATE
Founded in 1997 OVG Real Estate is the largest developer in the Netherlands and one of the most successful in Europe, leading in the development of office properties. Under the leadership of its founder Coen van Oostrom, the company has been setting new benchmarks for sustainable and technology-oriented building for 19 years. Specialized on intelligent and future-oriented solutions, OVG grew from a classic developer into a technology firm.
HumboldtHafenEins in Berlin was named “Germany’s greenest office building” by DGNB standards in 2015 while the project “The Edge” in Amsterdam was named the most sustainable building of the world by BREEAM-standards. OVG is currently developing several office projects in Berlin.
THE COMPANY: FREO
FREO Group as it is known today was established in 1996. 20 years and over 40 transactions later, FREO is today an independent pan-European investment manager and developer with a deep and cohesive network of 15 offices in 7 countries with over 100 employees.
Since its founding, FREO has worked on projects with a total area of over 1.5 million sqm in a variety of asset classes, including office, retail, hotel, industrial and mixed-use.
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