ROCKSTONE buys existing property in Berlin-Kreuzberg

Real estate developer ROCKSTONE Real Estate (ROCKSTONE) has acquired a mixed-use portfolio property in Berlin-Kreuzberg in an off-market transaction. The property comprises four building sections with a total of 5,000 square meters of rental space. More than two-thirds of the ensemble is office and commercial space, only 60 percent of which is currently leased. The office and commercial portion is to be successively modernized over the next two years and then turned over to diversified leasing. In the long term, the entire ensemble is to be refurbished in line with sustainability aspects and ESG criteria. The parties have agreed not to disclose the purchase price.

The property is located at Boppstraße 7 in Berlin-Kreuzberg in the popular Graefekiez. The lively old building district is a melting pot where creatives and hipsters meet the upper middle class and tourists. The three Gründerzeit building sections were built in 1904. The office building in the backyard was built in 1996. The ensemble has a long history and was popularly known as Zickenhöfe, which goes back to the fact that goats were kept there, which were sold on market day at the so-called Zickenplatz, the nearby Hohenstaufenplatz.

"Here we had the opportunity to acquire office space in a lively and mature neighborhood. Through targeted modernization measures, we can raise the space to a contemporary level and thus make it attractive for a variety of interested parties," says Florian Sakowski, Partner at ROCKSTONE and responsible for the business in the Berlin area. The rental offer particularly targets demand from the immediate neighborhood, such as companies from the creative industries and the digital sector.

"In Berlin, there is still an immense demand for high-quality offices in good neighborhood locations. The small-scale segment is particularly in demand, and where people live, so there is no need for long commutes," says Dietrich E. Rogge, founder and CEO of ROCKSTONE.

Magma Rock Estate GmbH acted as intermediary in the transaction. The buyer side was legally advised by the law firm Jebens Mensching. K&L Gates was mandated on the seller side.

For further information about the growth industries, economic development, business and technology support for companies, investors and scientific institutions in the Airport Region Berlin Brandenburg please contact:

Sandra Koletzki ​​​​​​ | sandra.koletzki(at)airport-region

(Source: Volker Binnenböse - Binnenböse Communications, 05|24|2023 | "ROCKSTONE kauft Bestandsimmobilie in Berlin-Kreuzberg")