A 35,000 m² (377,000 sqf) office building in a good location in one of Germany’s Top 5 office markets with outdated technical equipment and significant vacancy. The main tenant had a few years left on his lease term and was unhappy, leading to a significant net operating income (“NOI”) risk.


The extension of the main tenant‘s lease term was a prerequisite for the renewal of the technical equipment of the building.
In addition, upgrading the building through

  1. Creation of a modern entrance area incl. lobby,
  2. Optimization of the existing retail tenant mix through lease terminations and new lettings as well as the creation of additional retail space,
  3. LEED Gold certification and
  4. New marketing concept to boost occupancy


Extension of the main tenant‘s lease term by 15 years. Creation of additional 900 m² of retail space by covering two atriums and leasing it to top tenants (including dm and Sixt) with terms of 10+ years. Full lease-up of the 15% office vacancy.
Overall, a 60% increase in property’s net asset value (“NAV”) was achieved.

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