Berlin is a rising star for global businesses seeking a vibrant city with an international outlook. The city is relatively cheap, has strong infrastructure and is well ranked across a range of metrics, including a top startup location as well as a top location for expats. Growing demand for office space has seen specialty consultancy Knight Frank expand its team in the city – the new joiners are a three member scoop from rival Cushman & Wakefield.
Germany’s capital Berlin has been lifting its profile in recent years. Last year Berlin clenched the 6th spot in a ranking of the world’s most sustainable cities, the 13th spot in a list of the best cities for expats and was named the 9th most attractive city for startups and entrepreneurs. The attractiveness of the city has seen an influx of national and international capital markets flows looking for office space: in 2015 total investment hit €2.9 billion with around 900,000 square meters of space rented. The city, and its relatively cheap rents and international outlook make it attractive for talent, startups and business.
According to Knight Frank, the city is achieving Prime Yields at almost the level of London and Paris, enthusing international investors for investments in the city, creating strong fundamentals for continued growth in the city’s real estate market. In a bid to capitalise on the potential in the city, real estate consultancy Knight Frank recently poached a three member team of Capital Markets agents, Hanns-Joachim Fredrich, Heiko Franke and Daniel Shakhatreh, from Cushman & Wakefield (C&W).
Chris Bell, Managing Director Europe at Knight Frank, states: “We have identified Berlin as one of our key international markets and focused our Capital Markets growth on the City – therefore we are extremely proud to announce the arrival of the new team members who are a great fit with the strong performance of our existing team in Berlin.” Knight Frank opened its Berlin office back in 2013, after it added the German player Hettrich Sauer & Cie. The property specialist has further local offices in Frankfurt and Munich.
Fredrich, who joins the team from the 1st September 2016, is currently a Partner at Cushman and Wakefield, where he has worked since 2012. Previously he worked at DTZ (which recently was bought by C&W) for more than 15 years, in his last role as Managing Director. Franke and Shakhatreh join the team from the 1st June. Franke joined C&W in 2013 as an Associate in its Investment team, previously he served as investment team leader at Aengevelt for 15 years, while Shakhatreh is currently a Senior Consultant Capital Markets Group at C&W, previously he worked at DTZ as a Senior Consultant Office & Retail Investment between 2007 and 2013, and was a Commercial Clerk at Vattenfall between 2005 and 2007.
The new team aims to provide the firm’s growing client base in the city with strengths in office and retail assets, residential, hotels and development sites. The new team will work with, and be supported in its continued growth, by the firm’s European Capital Markets team – which is headed by London based Andrew Si.
Ole Sauer, Partner of Knight Frank Berlin, comments: “It is fair to say that we have attracted one of the best Capital Markets teams in Berlin which demonstrates the strength of the Berlin office and our brand; I am proud to see a team of three exceptional individuals arriving shortly and advising our national and international clients. Hanns-Joachim Fredrich and the team have an impressive track record and capital markets expertise.”