PORTFOLIO: FUND V
Berlin Brewery (Berlin)
Repeat business from development partner
Home Center Management, a development partner for three other investments by other ASG funds, sought €5.5 million in bridge finance to acquire a former brewery in Berlin. The 4-hectare riverside site is in the Niederschoeneweide district of the German capital, the country’s most dynamic real estate market.
The fund has provided financing to give HCM the time to obtain new zoning to allow the redevelopment of the site for office, retail and other commercial uses. The very positive fundamentals of the Berlin office market, the short investment horizon and prospects that consent for new zoning would lead to a significant uplift in the value of the site make this an attractive project for the fund to finance.