# Siemensstadt, Berlin: a 1927 OSRAM glassworks with a power contract, sold to a fund

> German developer Aventos bought the former OSRAM glassworks in Berlin-Siemensstadt in 2021 in a sale-leaseback, **secured the power supply contract** for a data center with an on-site substation planned, and in December 2025 sold the data center plot to **Tristan Capital Partners’** EPISO 6 fund. The plot is planned for up to **63 MW** across three buildings. Terms were not disclosed.

Third-party precedent · Germany · Completed sale · Pathway: Land and power assembled, then sold to an operator · Last checked 2026-10-13 · https://ampervia.com/case-studies/siemensstadt-berlin/

## Timeline

| When | What happened |
|---|---|
| 1927 | Glassworks built for OSRAM light-bulb production. |
| 2021 | Aventos acquires the site in a sale-leaseback; plans the Luxwerk business park. |
| 2025 | Power supply contract secured for the data center part; on-site substation planned. |
| Dec 2025 | Data center plot sold to Tristan Capital Partners (EPISO 6); terms not disclosed. |

## What changed between entry and exit

- Split the data center plot from a wider redevelopment.
- Secured the power contract, described by the seller as the crucial milestone in the value chain.
- Sold to an institutional fund rather than building.

## Capital and counterparties

Aventos (developer) to the power milestone; Tristan Capital Partners’ opportunistic fund for the next stage.

## Economics

| Item | Figure | Note |
|---|---|---|
| Entry price (2021) | Not disclosed | Sale-leaseback |
| Exit price (2025) | Not disclosed |  |
| Planned capacity | Up to 63 MW | Three three-storey buildings |

## Risks and limitations

- No prices are public.
- Berlin allocates large connections through an annual procedure; a contract already in hand is what made the plot sellable.

## Relevance to Ampervia

In a rationed grid like Berlin’s, the power contract is the asset. An institutional fund bought at that milestone, before any building.

## Sources

- [DCD — Aventos sells planned data center site in Berlin to Tristan Capital Partners (Dec 2025)](https://www.datacenterdynamics.com/en/news/german-real-estate-firm-aventos-sells-planned-data-center-site-in-berlin-to-tristan-capital-partners/)