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In December 2016, the Fund signed contracts to acquire the Cube, an office development project in Berlin. The 17,239 sq m building, completed in June 2020 and represents the European Citied Fund's 14th investment.
The iconic office asset has a striking glass façade and integrates the latest smart technology and is in a prime location between the Parliament Quarter and Hauptbahnhof Station, next to the River Spree. This is part of a long-term regeneration area called ‘Europacity’ and is one of the most important development areas in Berlin.
Being 100% pre-let to a strong occupier mix from legal and financial services sectors, on predominantly 10-year leases, the Cube is also under-rented on acquisition, experiencing strong rental growth and high occupational demand since the leases were signed, a result of Berlin being one of the top performing office markets in Germany.