Since its inception in 2010, Peakside has been successfully investing in office and retail properties in Germany and Central-Eastern Europe (CEE).
In doing so, we do not buy "the market" or an "asset class", but pursue individual attractive deals that allow us to add value primarily through active management that is not dependent on market cycles. We use our deep market knowledge and quick decision making to monetize trends and special situations.
Our focus is typically on properties that have been affected by price distortions, are "stranded" in sales processes, have additional (re-)financing needs and are subject to mispricing, or on properties with operational value enhancement or conversion potential.
Fernmeldeamt - Hamburg, Rotherbaum
PREF II, advised by Peakside, acquired the historic telecommunications office in Hamburg Rotherbaum, an office and technical building of Deutsche Telekom with approx. 50,000 sqm, from a closed-end fund in 2016. At the time of purchase, the property was more than 90% leased to Deutsche Telekom and the City of Hamburg (university) and generated a stable cash flow with an average remaining term of 3 years.
The main user Deutsche Telekom intends to vacate a large part of the rental space. The vacated space offers great potential for revitalization into a modern administrative and university complex.
Frankfurt Airport Center - Frankfurt am Main
PREF II, advised by Peakside, acquired the office property Frankfurt Airport Center I from an institutional fund in 2017. The property comprises
48,000 sqm and 182 parking spaces and is leased to users with strong credit ratings. The property is directly connected to Terminal 1 of Frankfurt Airport and is located next to the ICE long-distance train station.
The property is in need of refurbishment and has an occupancy rate of around 60%. Through a detailed refurbishment concept and a targeted asset management and leasing strategy, Peakside succeeded in raising the occupancy rate to 90% in a very short time.
After completion of these value-creation measures, the property was sold at the end of 2018 to Deutsche Immobilien AG, as a long-term portfolio holder.
Cube - Prague, Czech Republic
In 2016, Peakside Capital acquired an iconic office building in Prague with 21,000 sqm of gross leasable area from a US fund for an individual mandate. The property is located in the north-west of Prague about a ten-minute drive from Prague International Airport.
The potential for value appreciation included further expansion of the building and its amenities, extension of existing leases and leasing of vacant space.
Since acquisition, Peakside Capital has extended existing leases or entered into new leases for over 3,200 sqm of gross leasable area.
Financial Centre - Poznan, Poland
Peakside Capital acquired an office building with 18,300 sqm (gross leasable area) for an individual mandate in an off-market transaction from a closed real estate fund which was in the disinvestment phase in 2015. The building is easily accessible by public transportation and is located in the immediate vicinity of the most prominent shopping center a few minutes walk from the main train station.
The existing value appreciation potential is to be exploited through refurbishment work for the main tenant and new leasing activities.
Since the acquisition, the occupancy rate has increased to over 90% through five lettings of over 1,800 sqm (10% of the gross leasable area).
Reload Portfolio - Czech Republic
Peakside Capital acquired a portfolio of 72 retail centers (totaling
177,000 sqm of gross leasable area) within the Czech Republic for an individual mandate in 2015.
The portfolio was acquired for an attractive acquisition price. Detailed business strategies were developed for each building, which included diverse investment strategies, such as sales, new leasing or extensive renovation of the assets.
The assets were successively sold in the form of individual transactions and smaller portfolios, resulting in a total sales value of over EUR 90 million. The last properties were sold at the beginning of 2021.
MARO - Frankfurt am Main
PREF I, advised by Peakside, purchased two vacant office properties, in Frankfurt's central business and shopping district, in the immediate vicinity of the luxury shopping street Goethestraße in 2013.
The buildings provided the opportunity to develop a new, high-quality office and retail complex with approximately 13,000 sqm of office and retail space.
Peakside leased over 80% of the newly developed property during the construction phase and successfully sold the project to an institutional fund in 2016.
