We pursue a cross-sector investment strategy and are thus able to bring our full experience to bear, particularly in the case of properties that combine different types of use or are suitable for conversion. We develop creative conversion and repositioning concepts, leverage expansion and revitalization potential, and create added value through active asset and leasing management.
Forum - Berlin
PREF II, advised by Peakside, acquired the Forum Landsberger Allee property with approx. 35,000 sqm of leasable space and an occupancy rate of 90% from insolvency proceedings in 2015. The property is located approx. 3 km from Alexanderplatz, in the immediate vicinity of the Berlin S-Bahn ring.
The mixed-use property has approx. 14,000 sqm of office space and 3,400 sqm of retail space and is also used by a hostel with approx. 900 beds and a hotel with 152 rooms. The site also includes a public parking garage with 400 parking spaces.
Peakside has implemented a restructuring program and invested extensively in the property. As a result of these measures, Peakside achieved a significant increase in rental income and a significant extension of the average lease term from 5 to 10 years. The majority of the value creation was realized within two years of the purchase of the property.
CARAT - Frankfurt am Main
PREF III, advised by Peakside, purchased a mixed-use office and residential building with a total area of approximately 9,270 sqm in 2017. The property is located in Frankfurt's "City West".
The building comprises approximately 6,000 sqm of office space as well as 26 residential units and a store. Despite high tenant demand in this submarket, the property had approximately 50% vacancy at the time of purchase, primarily in the office area.
Immediately after the acquisition, Peakside initiated measures to reduce the vacancy rate in the property. These measures include renovating and refurbishing the office space in line with the market as well as converting the building into a boarding house to meet the current strong demand for micro apartments.
Adlershof Hotel - Berlin
PREF III, advised by Peakside, acquired a plot of land in Berlin-Adlershof with approx. 11,000 sqm from the State of Berlin in 2017. A total of around 25,000 sqm of leasable space will be realized there.
The majority of the space will be occupied by a hotel with up to 400 rooms, which will also close an infrastructural gap at the Adlershof location. In addition, around 5,000 sqm of high-quality office space will be developed, as well as 150 underground parking spaces.
