Mittwoch, 18.10.2017 18:25 Uhr

German publisher Axel Springer

Verantwortlicher Autor: Carlo Marino Berlin/Rome, 18.07.2017, 16:38 Uhr
Nachricht/Bericht: +++ Wirtschaft und Finanzen +++ Bericht 4799x gelesen

Berlin/Rome [ENA] German publisher Axel Springer, is Europe’s leading digital publisher. Axel Springer founded his publishing house in Hamburg in 1946 and has sold its future headquarters in Berlin, at present under construction, to Norway’s sovereign wealth fund, Norges Bank Real Estate Management, which manages property investments for the NOK8.1trn (€865bn) oil fund. Norges Bank Real Estate Management said it bought

the project for €425m. On July 14, 2017, a deed of sale was concluded with the Norwegian sovereign wealth fund company Norges Bank Real Estate Management for Axel-Springer-Neubau. The new building has been designed by architect Rem Koolhaas (OMA) and set for completion in December 2019. The deed will automatically enter into effect once the construction of the new building is for the most part complete. The 13-story building, with a total rental area of approximately 52,200 sqm, is located on a site of around 10,000 sqm in the heart of Berlin, nearby the former Berlin Wall in Zimmerstraße and next door to the company's existing office buildings. Axel Springer will lease the new building back on a long-term lease.

On the other hand, Axel Springer sold its existing home office in Berlin Kreuzberg to Blackstone. The new owners of Axel-Springer-Passage, which was opened in 2004, are Blackstone Real Estate Partners Europe V ("Blackstone") and QUINCAP Investment Partners ("QUINCAP"). A corresponding deed of sale was signed on July 5, 2017, which will enter into effect with the payment of the purchase price and handover of the building at the end of 2017.

The ten-story building, with a total rental area of approximately 52,700 sqm, borders Axel Springer's remaining high-rise buildings. After the sale of the property, Axel Springer will still use the majority of the overall area until end of 2020.Axel Springer will move from the old headquarters to the new building in 2020.Once completed, the new headquarters will have 52,200sqm of space. Its present home was developed in 2004 and is divided into 46,000sqm of office space and 7,000sqm of retail.OfficeFirst, Blackstone’s German office portfolio company, will manage the building.

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