{"id":1004147901,"date":"2016-07-12T05:21:53","date_gmt":"2016-07-12T13:21:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004147901"},"modified":"2022-03-03T06:51:31","modified_gmt":"2022-03-03T14:51:31","slug":"blackstone-jv-nabs-allianzs-255m-berlin-base","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/","title":{"rendered":"Blackstone JV Nabs Allianz’s $255M Berlin Base"},"content":{"rendered":"

By Bogdan Odagescu, Associate Editor<\/em><\/p>\n

\"An<\/a>

An den Treptowers 3, Berlin<\/p><\/div>\n

Berlin<\/strong>\u2014Blackstone<\/a> Real Estate Partners Europe IV and Quantum Capital GmbH & Co. recently closed on the acquisition of An den Treptowers 3 in Berlin, a high-quality, 970,000-square-foot office asset. Deutsche Office<\/a>, a 90.9 percent subsidiary of alstria office REIT-AG<\/a>, cashed in approximately $255 million on the transaction.<\/p>\n

The property, which sits in Berlin\u2019s Mediaspree submarket, currently houses Allianz\u2019s life insurance division. The Munich-based financial services company will completely vacate the building at the end of its current lease, which ends mid-2019. Currently, An den Treptowers 3 generates approximately $15.4 million in annual rental income.<\/p>\n

\u201cThe sale of the Treptowers asset allows alstria to substantially de-risk its balance sheet,\u201d said Olivier Elamine, CEO of alstria office REIT-AG, in a prepared statement. \u201cWe will be re-investing the proceeds of this sale mostly in the Berlin market, however, on smaller assets that better fit into the risk-return profile we are looking after.\u201d<\/p>\n

JLL brokered the transaction, while Freshfields Bruckhaus Deringer acted as advisor for the seller. The buying consortium was advised by CBRE, Clifford Chance and PwC.<\/p>\n

Blackstone\u2019s 3.2 million-square-foot German portfolio, which focuses on prime assets in key locations across the country\u2019s important metros, includes properties in Frankfurt, Hamburg, Munich and Dusseldorf.<\/p>\n

This is Blackstone\u2019s second big move in less than a week, following the naming of former Heineken COO Marc Bolland<\/a> as head of European portfolio operations, private equity businesses, just a few days ago.<\/p>\n

Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The 970,000-square-foot asset was sold by Deutsche Office, a subsidiary of alstria office REIT-AG.<\/p>\n","protected":false},"author":740,"featured_media":1004147906,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,16,21783,21742,21747],"tags":[],"class_list":["post-1004147901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-international","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"\nBlackstone JV Nabs Allianz's $255M Berlin Base - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone JV Nabs Allianz's $255M Berlin Base\" \/>\n<meta property=\"og:description\" content=\"The 970,000-square-foot asset was sold by Deutsche Office, a subsidiary of alstria office REIT-AG.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-12T13:21:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T14:51:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/An-den-Treptowers-3-Berlin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"902\" \/>\n\t<meta property=\"og:image:height\" content=\"647\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bogdan Odagescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/\"},\"author\":{\"name\":\"Bogdan Odagescu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/b496539dc21c086e1deff9b417453162\"},\"headline\":\"Blackstone JV Nabs Allianz’s $255M Berlin Base\",\"datePublished\":\"2016-07-12T13:21:53+00:00\",\"dateModified\":\"2022-03-03T14:51:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/\"},\"wordCount\":262,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/07\\\/An-den-Treptowers-3-Berlin.jpg\",\"articleSection\":[\"Deals\",\"International\",\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/\",\"name\":\"Blackstone JV Nabs Allianz's $255M Berlin Base - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/07\\\/An-den-Treptowers-3-Berlin.jpg\",\"datePublished\":\"2016-07-12T13:21:53+00:00\",\"dateModified\":\"2022-03-03T14:51:31+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/b496539dc21c086e1deff9b417453162\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/07\\\/An-den-Treptowers-3-Berlin.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/07\\\/An-den-Treptowers-3-Berlin.jpg\",\"width\":902,\"height\":647,\"caption\":\"An den Treptowers 3, Berlin\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-jv-nabs-allianzs-255m-berlin-base\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Blackstone JV Nabs Allianz’s $255M Berlin Base\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/b496539dc21c086e1deff9b417453162\",\"name\":\"Bogdan Odagescu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2026\\\/03\\\/Bogdan-Odagescu.png?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2026\\\/03\\\/Bogdan-Odagescu.png?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2026\\\/03\\\/Bogdan-Odagescu.png?w=96\",\"caption\":\"Bogdan Odagescu\"},\"description\":\"Bogdan Odagescu is an executive editor with Commercial Property Executive and Multi-Housing News. He joined CPE and MHN in 2016, as associate editor. Bogdan coordinates news writing and editing work for the two publications, among others. He has a background in English, literature, translation and cultural journalism, and holds an MA in contemporary literature and culture from Birkbeck College, University of London.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/bogdanodagescu\\\/\"],\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/bogdan-odagescu\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Blackstone JV Nabs Allianz's $255M Berlin Base - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/","og_locale":"en_US","og_type":"article","og_title":"Blackstone JV Nabs Allianz's $255M Berlin Base","og_description":"The 970,000-square-foot asset was sold by Deutsche Office, a subsidiary of alstria office REIT-AG.","og_url":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2016-07-12T13:21:53+00:00","article_modified_time":"2022-03-03T14:51:31+00:00","og_image":[{"width":902,"height":647,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/An-den-Treptowers-3-Berlin.jpg","type":"image\/jpeg"}],"author":"Bogdan Odagescu","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/"},"author":{"name":"Bogdan Odagescu","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/b496539dc21c086e1deff9b417453162"},"headline":"Blackstone JV Nabs Allianz’s $255M Berlin Base","datePublished":"2016-07-12T13:21:53+00:00","dateModified":"2022-03-03T14:51:31+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/"},"wordCount":262,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/An-den-Treptowers-3-Berlin.jpg","articleSection":["Deals","International","Investment","News","Office"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/","url":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/","name":"Blackstone JV Nabs Allianz's $255M Berlin Base - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/An-den-Treptowers-3-Berlin.jpg","datePublished":"2016-07-12T13:21:53+00:00","dateModified":"2022-03-03T14:51:31+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/b496539dc21c086e1deff9b417453162"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/An-den-Treptowers-3-Berlin.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/An-den-Treptowers-3-Berlin.jpg","width":902,"height":647,"caption":"An den Treptowers 3, Berlin"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-nabs-allianzs-255m-berlin-base\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Blackstone JV Nabs Allianz’s $255M Berlin Base"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/b496539dc21c086e1deff9b417453162","name":"Bogdan Odagescu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/Bogdan-Odagescu.png?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/Bogdan-Odagescu.png?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/Bogdan-Odagescu.png?w=96","caption":"Bogdan Odagescu"},"description":"Bogdan Odagescu is an executive editor with Commercial Property Executive and Multi-Housing News. He joined CPE and MHN in 2016, as associate editor. Bogdan coordinates news writing and editing work for the two publications, among others. He has a background in English, literature, translation and cultural journalism, and holds an MA in contemporary literature and culture from Birkbeck College, University of London.","sameAs":["https:\/\/www.linkedin.com\/in\/bogdanodagescu\/"],"url":"https:\/\/www.commercialsearch.com\/news\/author\/bogdan-odagescu\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/An-den-Treptowers-3-Berlin.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004147901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/740"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004147901"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004147901\/revisions"}],"predecessor-version":[{"id":1004570053,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004147901\/revisions\/1004570053"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004147906"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004147901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004147901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004147901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}