Invest with Peakside Capital
Peakside Capital´s strength is in developing successful investment strategies, identifying and being able to realise the potential of challenging properties. We invest in every asset class with a clearly defined strategy. Our strategies are always centred around fundamental data and sustainable market development.
In the case of value add strategies, the desired increased value of real estate is based on excellent market entry on purchase and the results of creative and experienced technical and professional asset management. This approach permits us to make rational investments at every stage of the market cycle.
Core strategies require an understanding of many medium-sized towns and urban agglomerations as well as a good network of property owners and real estate developers in these markets. Our home markets have a polycentric structure. Many B/C category cities, in particular university cities, have outstanding fundamental data and offer sustainable and rational investment opportunities. Since we are established players in these markets for many years, we have an edge over many of our competitors.
The management of core real estate serves to safeguard assets and attain regular, sustainable dividends. We are familiar with and experienced in the operating processes required for this, and their detailed implementation.
Since Peakside Capital was founded, our team has completed successful developments in various investment and risk classes. A selection of our developments can be found here. These can be sorted by various criteria using the filters.
HISTORIC TELECOMMUNICATION HUB HAMBURG
In 2016, Peakside acquired from a closed-ended fund the historical landmark ‘Fernmeldeamt Rotherbaum‘, an office and technical building with ca. 50,000 sqm, mainly used by Deutsche Telekom. At acquisition, the property was 90% let to Deutsche Telekom and the City of Hamburg (University) and generated a stable cash flow with an average remaining lease term of 3 years.
As the main tenant Deutsche Telekom intends to vacate the majority of the rental area, providing an attractive opportunity to reposition the asset into a modern office and university complex.
FORUM LANDSBERGERALLEE BERLIN
In 2015, Peakside acquired the mixed use asset Forum Landsberger Allee with c. 35,000 sqm lettable area and 90% occupancy out of an insolvency proceeding. The asset occupies a highly visible location in immediate proximity to the Berliner S-Bahn Ring and c. 3 km from Alexanderplatz.
The asset houses ca. 14,000 sqm of office and 3,400 sqm of retail space and also comprises a hostel with ca. 900 beds as well as a hotel with 152 rooms. Additionally, a public car park with 400 units is located on the site.
Peakside realised a restructuring and renovation programme including substantial investments into the asset.
A new retail concept was implemented and the hotel areas were re-let and refurbished. The office tenancy was also re-geared and re-let. Peakside realised a considerable increase in rental income and doubled the lease term from five to ten years.
The property was sold to a fund of Patrizia Immobilien AG in 2018 that intends to hold the asset on a long-term basis.
OFFICE PROPERTY “SQ41” FRANKFURT - CBD
In 2013, Peakside acquired a c. 7,200 sqm office building from a US investment fund that was withdrawing from the German market. The property is situated in a prime location in the banking district of Frankfurt. The asset offered an attractive opportunity for a high quality office repositioning through implementing an extensive asset management programme, including the addition of an underground car park.
Peakside executed the refurbishment and letting faster than planned and subsequently sold the repositioned asset to an institutional fund in 2014.
OFFICE- AND RETAILPROPERTY „MARO“ FRANKFURT - CBD
In 2013, Peakside acquired two vacant office properties in Frankfurt from a private bank. The premises are located within the central business district, adjacent to the luxury shopping street Goethestrasse.
The assets offered the possibility to develop a new high quality office and commercial property with c. 13,000 sqm.
Peakside pre-let over 80% during the construction phase and sold the asset in 2016 to an institutional fund.
HOTEL & OFFICE DEVELOPMENT “POSTPALAST” MUNICH
In 2014, Peakside acquired a heritage protected former mail distribution centre with c. 32,000 sqm in the city centre of Munich and close to the main train station. In compliance with heritage protection, a new concept for hotel and office usage was created.
The asset was sold to a long-term investor in 2015 with a finalized planning concept.
RESIDENTIAL DEVELOPMENT „THE GARDEN LIVING“ BERLIN-MITTE
In 2012, Peakside acquired a vacant c. 12,000 sqm land plot in Berlin-Mitte. On the plot, a new residential development, comprising ca. 16 houses and ca. 280 upmarket units as well as further retail areas, was realised.
A part of the development with 120 units were sold as condominiums and the remaining units were sold to a long-term institutional investor before construction start and let prior hand-over.
HOTEL & OFFICE DEVELOPMENT BERLIN ADLERSHOF
In 2017, Peakside acquired a ca. 11,000 sqm land plot in Berlin-Adlershof from the State of Berlin to realise ca. 25,000 sqm lettable area.
The majority of space will be dedicated to a hotel with up to 400 rooms, catering to a local supply shortage in Adlershof. Furthermore, ca. 5,000 sqm high quality office space and 150 underground parking units will be constructed.
OFFICE & RETAIL PORTFOLIO BERLIN, DÜSSELDORF, ET AL.
In 2017, Peakside acquired a portfolio of 14 assets across Germany from an insurance company. The assets are all centrally located in German A, B and C cities and comprise a total of c. 37,000 sqm lettable area.
Peakside reduced the vacancy and subsequently sold the stabilized assets individually or in regional portfolios to long-term investors.
FRANKFURT AIRPORT CENTER FRANKFURT
In 2017, Peakside acquired the office property Frankfurt Airport Center I („FAC“) from an institutional fund. The property comprises a total rental space of 48,000 sqm and 182 parking spaces. The asset is directly linked to terminal 1 of the Frankfurt airport and located next to the ICE high-speed train-station.
Peakside acquired the undermanaged asset with an occupancy of around 60%. Through the set-up of a new refurbishment concept and the focussed execution of a hands-on asset management and leasing strategy Peakside was able to increase occupancy to 90% in almost no time.
During the acquisition phase, Peakside was also able to negotiate the extension of the leasehold by another 30 years until 2090, which further increased the value and stability of the investment.
With the successful lease-up, the improved leasehold term and a clear repositioning programme, FAC was sold to a long-term investor, a listed German Real Estate company.
OFFICE & RESIDENTIAL PROPERTY „CARAT“ FRANKFURT
In 2017, Peakside acquired an undermanaged c. 9,270 sqm mixed commercial and residential building located in Frankfurt’s ”City West”.
The building offers c. 6,000 sqm of office space while the remaining area consists of 26 residential apartments and one retail unit. At acquisition, the asset was 50% vacant predominantly in the office space, while the submarket is benefitting from strong commercial occupational demand.
Peakside has initiated measures to eliminate the vacancy either through the completion of a light refurbishment or by way of a conversion into a boarding house to meet the strong demand for long-term stay in the city.
OFFICE PROPERTY "THA 108" FRANKFURT - CITY WEST
In 2017, Peakside acquired an office building located at Theodor-Heuss-Allee 108 in Frankfurt’s “City West” from a closed ended fund in liquidation.
The building comprises c. 11,000 sqm of flexible office space over seven floors, which can be tailored to individual tenant needs and offers more than 160 parking spaces.
Located in a prominent office area of Frankfurt´s “City West”, the property is well connected by public transport and has direct access to the highway.
At acquisition, the asset was c. 40% vacant while the remaining space was leased to commercial tenants and a private university. Benefiting from a quality architectural design and the strong fundamentals of the Frankfurt office market, the asset offered attractive asset management potential at acquisition. Already at closing Peakside was able to increase the original occupancy level from 60% to more than 80% by signing a long-term lease with an institutional tenant.
Following a focused asset management and leasing programme, Peakside was able to lease-up the building to almost 100% by end of 2018
OFFICE PROPERTY “SIGMA” FRANKFURT NIEDERRAD
In 2018, Peakside acquired an office building in Frankfurt Niederrad as part of a small portfolio transaction. The portfolio was acquired from an institutional fund.
The property was built in 2003 and offers c. 14,000 sqm of modern and flexible office space. The occupancy of c. 70% requires a focussed leasing programme in order to stabilize the asset. Already shortly after closing Peakside was able to secure the first letting successes.
Peakside will continue its strategy with the aim to stabilize the occupancy and increase the lease term in the increasingly dynamic Niederrad submarket.
OFFICE PROPERTY “BASELER PLATZ” FRANKFURT CENTRAL
In 2018, Peakside acquired an office portfolio in collaboration with real estate funds managed by LGT Capital Partners companies. The portfolio was acquired from a fund managed by HVB Immobilien AG with Berlin Hyp acting as finance partner. It consists of two office buildings in Frankfurt with c. 27,000 sqm of net lettable area across the assets. The buildings have different investment profiles and will draw on the breadth and depth of Peakside’s asset management skills. The first property is Lyoner Strasse 20 in Frankfurt Niederrad which was built in 2003 and offers modern and flexible office accommodation with c. 14,000 sqm of net lettable space and an occupancy of c. 70%. Peakside plans to implement a focused leasing and asset management strategy to stabilise the asset in the increasingly dynamic Niederrad submarket. The second property is located at Baseler Strasse 46-48/Gutleutstrasse 80-82 in the centre of Frankfurt, close to the main train station. The asset currently offers c. 13,000 sqm of net lettable space and is need of a substantial refurbishment. Multiple asset management strategies are being considered, including a partial hotel conversion, as well as refurbishing the remaining part of the building into a modern office building. Peakside is also reviewing the possibility of a new ground-up development.
Office property Atrium Centrum Warsaw
Completed in 2001, Atrium Centrum is a 17,600 sqm office building located in Warsaw’s CBD on one of the city’s major thoroughfares. The property is within a 5-minute drive from the main train station and has direct access to numerous bus and tram lines.
In December 2015 Peakside Capital acquired the office building for a separate account in an off market transaction from a real estate fund that was approaching its maturity.
The business plan has been to manage the rollover of anchor tenants, refurbish the lobby and common areas, revitalise the external illumination and lease up the vacant space.
To date, the occupancy level has increased by 16% since acquisition. Eight leases have been signed totalling 8,900 sqm of space (i.e. approximately 50% of GLA), including the lease renewal of the building’s anchor tenant. The lobby and common area refurbishment works are expected to be completed in Q3 2017.
This is Grade A office property comprising 12,600 sqm of GLA, completed in 2007 and located in Prague, Czech Republic. The asset is located in Prague 6, at Evropska Street which is easily accessible from Prague’s international airport. The Argo office building is adjacent to the Cube office building which is also managed by Peakside Capital.
The property was acquired in February 2017 by a separate investment vehicle managed by Peakside Capital.
The building, characterised by a high quality, flexible office space with large floorplates (over 2,000 sqm) is occupied by a number of reputable and internationally-recognised tenants.
The business plan for the asset focuses on re-gearing expiring leases thereby increasing the WALT, improving occupancy levels and investigating potential synergies with the adjacent office property, the Cube.
Office complex "Atrium Plaza" Warsaw
Completed in 1999, Atrium Plaza is a 14,700 sqm office building located in Warsaw’s CBD on one of the city’s major thoroughfares. The property is within a 5-minute drive from the main train station and has direct access to numerous bus and tram lines.
In December 2015 Peakside Capital acquired the office building for a separate account client in an off market transaction from a real estate fund that was approaching its maturity.
The business plan has been to create a showroom space to support leasing initiatives, refurbish the lobby and common areas, revitalise external illumination and lease up vacanct space.
Since acquisition, eleven leases totalling 3,400 sqm of space (23% GLA) have been signed. The lobby and common area refurbishment design process will be finalised during Q2 2017 and the works will start during Q3 2017.
This is an iconic office property built in 1977 and is located in Prague, comprising 21,000 sqm of GLA. The asset is located in Prague 6 district which is approximately 400 m from the new Veleslavin metro station and a 10 minute drive from Prague’s international airport.
Peakside Capital acquired the building in 2016 for a separate account. The asset was purchased from a US-based fund, which wanted to sell its last remaining asset in the Czech Republic.
Since acquisition, Peakside Capital has managed to secure a substantial number of leases with new tenants as well as existing ones who have been to expand their presence in the building. Peakside Capital’s business plan going forward includes a further upgrade of the asset and its amenities.
Reload Czech Republic
Peakside Capital bought a portfolio of 72 convenience retail centres (177,000 sqm of GLA) which are located across the Czech Republic.
The portfolio was acquired in 2015 for a separate investment vehicle managed by Peakside Capital. The portfolio was purchased at an attractive entry base price with a detailed business plan for each property, representing various investment strategies including sale, value-add and redevelopment.
As of March 2017, Peakside Capital had successfully disposed of 37 assets and distributed circa 70% of invested equity back to investors. New leases and lease extensions totalling to circa 84,000 sqm of retail space, including extending a lease with Ahold (a major food anchor operating under the Albert supermarkets brand) for 23 assets, have been signed since acquisition.
Financial Centre Poznan
Completed in 2001, Poznan Financial Centre is a 18,300 sqm landmark office building located in the CBD of Poznan, Poland. The property is easily accessible by public transportation and is located adjacent to the most prominent shopping centre in the city and within walking distance of the main train station.
In December 2015, Peakside Capital acquired the office building for a separate account in an off-market transaction from a real estate fund that was approaching its maturity.
The business plan focus has been on refurbishment works for the anchor tenant as well as additional lease-up activities.
Since acquisition, five leases totalling 1,800 sqm of space (10% GLA) have been signed, bringing total occupancy levels to over 90%.