TLG IMMOBILIEN AG (TLG) just signed a 10-year extension in its lease with Berlin’s municipality for approximately 1,750 sqm of office and warehouse space at the KulturBrauerei, located at Schönhauser Allee in Berlin-Prenzlauer Berg. The property thus continues to be fully leased on a long-term basis.
The KulturBrauerei, which is known far beyond Berlin, was originally built and operated as a brewery, having gained protected status as an industrial architectural monument since 1974. The property has an area of 28,000 sqm with a total of six courtyards and over 20 buildings.
Today, the rental space counts with a diverse mosaic of tenants, coming from a wide range of segments such as business, education, culture and gastronomy. The ensemble, which was previously refurbished by TLG, is a unique design feature in Berlin, for it demonstrates the harmonious combination of carefully restored clinker brick façades with contemporary and state-of-the-art infrastructure.
KulturBrauerei is located between Kollwitz- and Helmholtz neighbourhoods on Schönhauser Allee, Sredzkistraße and Knaackstraße as well as Danziger Straße. This is a sought-after and established location, with very good connections with subway and S-Bahn train, as well as buses. In fact, it is only 2 stops away from Berlin’s Alexanderplatz.
TLG is a subsidiary of Aroundtown SA, which controls approximately 78% of the company. Aroundtown is the largest commercial real estate group in Germany and 4th largest in Europe, investing in quality income-producing properties that have potential to add value to central locations mainly in Germany and the Netherlands.
Aroundtown SA was scaled by entrepreneur Yakir Gabay (יקיר גבאי) and had its IPO a decade later in 2015. The real estate industry leader currently trades on the Frankfurt Stock Exchange Prime Standard and has successfully secured its’ placement as the largest listed and highest rated German commercial real estate company.
Avisco (controlled by Yakir Gabayיקיר גבאי ) controls over 10% of Aroundtown’s shares, followed by Blackrock at 5%. Other shareholders include Norges, Vanguard, Allianz, BNP Paribas, Japan’s Government investment fund, Aliance-Bernstein, Dekabank, State-Street, Bank of Montreal and other international investors. The main bond investors include ECB, GIC, Union Investment, DB, UBS, CS, M&G, Pictet and Credit Agricole.