Coros, an integrated real estate company focusing on office properties and mixed-use concepts in German and European cities, has acquired an office property in Berlin Schöneberg for the Commodus Deutschland Fund II ScSp, RAIF fund. The seller of the property is a Luxembourg fund company under the management of the Northern Horizon Group. Catella Property Consultants advised on the purchase of the property.
The multi-tenant property, built in 1998, is located at Bessemerstraße 82 and has a total lettable area of around 11,000 square metres. The nearby S-Bahn and long-distance railway station Berlin-Südkreuz as well as the connection to the A 100 city motorway provide easy access to Berlin's main railway station, BER airport and other Berlin districts. The building is around 95 per cent let to over 43 tenants.
Coros is planning extensive modernisation of the building. The flexible building fabric allows for the implementation of modern open-space office concepts by combining individual spaces designed to meet new-work requirements. This also includes upgrading the outdoor areas, for example by creating an outdoor area in a backyard location. This should offer a high quality of stay for all tenants in the future. In addition, the entrance area will be redesigned. Coros is pursuing an ESG concept for the conversion and expansion measures.
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Image source: Coros