Barings Real Estate Advisers sells office and retail property in Berlin to Real IS
Feb 07, 2017
Barings Real Estate Advisers, acting on behalf of an Anglo-Saxon investor has sold an office and retail building in Berlin-Kreuzberg to Real IS.
The property, a six-storey building dating from 1931, stands on a 2,700 sq m site at the corner of Charlottenstrasse and Rudi-Dutschke Strasse, on the boundary of the Kreuzberg and Mitte districts. Situated in the historic media quarter between Potsdamer Platz and Gendarmenmarkt, the building was refurbished and the Rudi-Dutschke-Strasse section extended in 2000/2001. The property provides around 8,700 sq m of offices, 1,100 sq m of retail accommodation and almost 1,500 sq m of storage with 5 parking spaces.
The property is 95% let with Barings Real Estate Advisers having re-let the space formerly occupied by MDK-Medizinischer Dienst der Krankenkasse. The new anchor tenant is the Jülich GmbH research centre. Other occupiers of the property include a newspaper publisher and a property services provider.
JLL Berlin brokered the transaction. The vendor's legal adviser was GT Greenberg Traurig, while GÖRG Partnerschaft von RAen MBB acted for the purchaser.
Barings Real Estate Advisers is one of the world’s largest diversified real estate-focused investment advisers. The group is an active investor in private and public, equity and debt markets and provides core, value-added and opportunistic investment and advisory services to institutional and other qualified investors around the globe.
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