Zeitgeist Asset Management purchases office building in one of fastest-developing areas of Berlin

Zeitgeist Asset Management, a company specializing in property development and asset management services for private and institutional investors, purchased an office building for the investor Lumiere Holdings from Deutsche Bahn AG. The property is located on Groß-Berliner Damm Street in the southeast part of Berlin.

The office building, with a leasable area of 5 254 m2, is located in the Treptow-Köpenick neighbourhood of the Adlershof city district, which rose to fame at the beginning of the 20th century thanks to the first flight of a German motor-powered aircraft.

“Adlershof has gone through a huge transformation and this part of the city shows great potential for social and economic growth and property investments. This office building will undergo renovations and we would like it to help in the development of the entire neighbourhood,” stated Peter Noack, the Co-founder and Managing Director of Zeitgeist Asset Management.

Alexander Glagolev, the owner and a member of the Board of Directors of Lumiere Group, added: “As of today Berlin is one of the most rapidly developing capitals in Europe and Lumiere Group’s vision is that by supplying the area with high end office facilities we contribute to the future of East Berlin.”