Meyer Bergman acquires German retail

Meyer Bergman has acquiredthe Karstadt department store on the Hermannplatz in the center of Berlin using capital from Meyer Bergman European Retail Partners II. The approximately 650,000-square-foot retail property was acquired for €60 million with 65 percent of all-in cost financing from HSH Nordbank. Markus Meijer, CEO of Meyer Bergman, has confirmed the acquisition.

The fund has been very active, acquiring a multi-use property on Paris’s Champs-Elysées for €245 million in November, as well as Calle Serrano 60 in Madrid from Caixa Bank for roughly €50 millionthis past summer and a 550,000-square-foot retail property in Bradford, England, for €250 million in 2012. The recent acquisition is “a deal that