Site purchase financing for European Student Housing Fund II

The Rathenau-Hallen in Berlin was purchased in the first half of 2019 by BaseCamp, a vertically integrated developer, operator and investment manager, on behalf of European Student Housing Fund II.

The Rathenau-Hallen site benefits from a waterside location on the River Spree in the neighbourhood of Oberschöneweide (in the Berlin district of Treptow-Köpenick), best known for the HTW Campus and its proximity to the Adlershof science and technology cluster. The project site is occupied by a number of office and commercial buildings with a current net lettable area of around 60,000 sqm. The existing industrial-style buildings are arranged in a campus setting and are for the most part monument-listed.

BaseCamp is developing the Rathenau-Hallen into a sophisticated district with a focus on contemporary office and light production space. The site will also be developed with a residential and hospitality campus and commercial space for convenience retail, restaurants, culture and leisure amenities. The restructure of the historic Rathenau-Hallen and the planned new buildings on-site will host both newly-formed and established companies, offering the opportunity for students, young professionals and other staff to network with local firms.

The sourcing and implementation of tailored site purchase financing for the Rathenau-Hallen was achieved within a very short timeframe before the contractually agreed closing date. An original financing partner withdrew at short notice which required a swift and targeted approach to possible alternative capital sources.