IREIT Global from Singapore and Kintyre Investments GmbH from Frankfurt am Main have concluded a long-term lease agreement with Berliner Verkehrsbetriebe (BVG) for RE(O Campus in Berlin-Ostkreuz. GSK Stockmann provided legal counsel to the owner. The contract covers an area of approximately 40,000 sqm and is for a duration of 25 years. BVG will use these premises for its new headquarters.
This transaction represents the largest office letting in Germany by leased area in 2024. Within Berlin, it is the most extensive office letting since 2020. As a result of this agreement, the occupancy rate of RE(O Campus increases from approximately 25 percent to around 75 percent.
IREIT Global, a Real Estate Investment Trust specialising in European properties, is supported in this endeavour by Kintyre Investments as the operational project development manager and representative. GSK Stockmann has been advising IREIT Global and Kintyre since 2023 on the development and repositioning of RE(O Campus, which is currently undergoing comprehensive redevelopment into a modern mixed-use campus.
Legal Expertise and Property Knowledge
The legal support and contract drafting on the owner's side were led by Dr. Nadine Wachendorf, Partner at GSK Stockmann in the field of real estate investments and asset management. The advice builds on a long-standing client relationship, which includes legal support for the development of RE(O Campus. Dr. Wachendorf stated that the team was able to contribute detailed property knowledge in addition to comprehensive and long-standing real estate expertise.
Further Development of RE(O Campus
RE(O Campus benefits from its immediate proximity to Berlin Ostkreuz. In addition to Berliner Verkehrsbetriebe, Premier Inn and STAYERY have already been secured for the location with long-term lease agreements. The current development measures aim to transform the campus into an integrated and functional mixed-use area.
