11 January 2021
ARCADIA sells “Northgate” multi-storey car park at BER Airport to Quantum
The property developer ARCADIA Investment Group has sold the newly constructed “Northgate” multi-storey car park in the “gatelands” business park to Quantum Immobilien Kapitalverwaltungsgesellschaft mbH. The car park is located in the immediate vicinity of the Berlin airport “Berlin Brandenburg Willy Brandt”. Quantum Immobilien KVG acquired the multi-storey car park with more than 1,500 parking spaces for the real estate fund “City Parking”, which it manages. The parties to the contract agreed not to disclose the purchase price.
The public car park was built within 15 months by GOLDBECK Nordost GmbH, Berlin-Brandenburg branch, and handed over on schedule. The new operator, GOLDBECK Parking Services GmbH, has secured the car park for a term of 20 years and has already taken over the management of the property.
“Looking back on the successfully completed and opened multi-storey car park confirms our decision to invest in the long controversially discussed region around the BER airport”, says Alexander Folz, Managing Partner of ARCADIA, about the realised project. “The constructive, trusting as well as close cooperation with Quantum moved us to pass the car park on to an established long-term investor.” For ARCADIA, this sale represents the largest transaction carried out in the parking sector to date.
The independent real estate group, founded in 1999, combines extensive expertise in the areas of project development, institutional investment products and the management of real estate investments. The focus of its activities are the metropolitan regions in Germany.
In the fund business, Quantum Immobilien AG offers institutional investors special real estate funds and alternative investment products through its own capital management company. Assets under management amount to approximately EUR 7.8 billion.
The project development segment comprises the realisation of own real estate projects as well as joint ventures within the scope of entrepreneurial investments. To date, development projects with more than 1,300,000 square metres of space have been realised. Further projects with more than 250,000 square metres of space are currently under construction or at the planning stage. The transaction volume amounts to around EUR 4.6 billion.
“gatelands” business park
The “gatelands” business park is being built on an area of around 100,000 square metres in the immediate vicinity of the capital city’s BER airport. It offers space for hotels, offices, service and retail facilities. In total, buildings with a total floor area of approximately 250,000 square metres are planned and approved here. Thanks to its premium location on the BER airport and the connection to the A 113 and A 10 motorways, the area is one of the most attractive development locations in the surroundings of Berlin.
In addition to various office buildings for individual users, several hotels are also being built. The B&B Hotel Berlin-Airport has already been opened. Planning permission has been granted for a hotel of the Moxy brand, and the office development “FLEXGATE” with approximately 15,000 square metres is under construction. Further hotels and office buildings are in the planning and approval process. The “gatelands” business park also includes approximately 20,000 square metres of forest with ponds and green areas.