The German Federal Institute for Risk Assessment signs a long-term contract for 10,400 square meters at Nahmitzer Damm 12
Major part of the contract relates to a new build, due to be completed by 2024, which will stand alongside the original and now fully renovated building
Berlin/Munich, February 08, 2022
Coros has concluded a significant rental contract for its life science campus located at Nahmitzer Damm 12 in Berlin. In this long-term deal, the German Institute for Federal Real Estate (BImA) has acted on behalf of the German Federal Institute for Risk Assessment (BfR). The BfR, which already has other premises nearby, will rent approx. 10,400 square meters in Coros’ life science campus.
The rental contract covers two separate building parts: The first approx. 3,700 square meters comprise the remaining space in the existing Nahmitzer Damm building, which Coros acquired in 2019 as one of its first investments for its Commodus Deutschland Fund II ScSp, RAIF. This latest deal means the building is now fully leased. Coros has undertaken significant modernization work at the site, transforming the building into a multi-tenant property with a flexible layout, canteen, and outside green spaces. Access to nearby public transport has also been improved thanks to a new path design.
The remaining 6,700 square meters relate to a new build element that Coros is constructing on behalf of BfR right next door to the existing building. This new space will be a modern mixed- use life science property with laboratories. Construction work is due to start in spring 2023 and Coros’ projected completion date is summer 2024. Architecture studio HENN, which specializes in laboratory buildings, has been appointed to draw up the master plans.
“In the German Federal Institute for Risk Assessment, we’re delighted to have secured such a renowned tenant and fantastic partner for realizing our vision for our life science campus. This deal confirms that we are taking the right approach to our asset management by applying new future-proof use concepts to leverage unused potential. We are working in close partnership with our tenants to develop the right room layout and facilities, so they can achieve their goals and plans in the best possible way, both today and in the long term.” explains Paul Sattlegger, Managing Director with responsibility for asset management at Coros.
“Wherever possible, we are using refurbishment projects and smart urban consolidation initiatives to unlock potential and open up new usage opportunities. This approach enables us to extend the life cycle of existing buildings and prevent large amounts of urban space being lost to new builds. In short, it promotes the sustainable development of our urban spaces.”
Coros is a real estate company with a long-term strategy and offices in Berlin, London, Luxembourg and Munich. The company identifies unused potential in urban areas and develops sustainable use concepts to realize lasting value for partners and urban societies. Our partners include institutional investors, such as pension funds, as well as international family offices. Together, we realize modern living and working environments and urban quarters in German and European metropolises. With a strong entrepreneurial spirit and a high level of analytical competence, we develop smart strategies for the sustainable design of urban spaces. In this way, we aim not only to optimally develop the individual potential of a property, but also to identify the needs of the community at an early stage and contribute to shaping the future. Together with our institutional partners, we have realized a project volume of well over 1 billion euros.
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