Angelo Gordon and Kintyre acquire Park Center Treptow in Berlin
A joint venture partnership between Angelo Gordon, a global investment manager, and Kintyre, a Frankfurt-based independent real estate investor and asset manager, has acquired Park Center Treptow in Berlin. A purchase price was not disclosed.
The 28,000-square-meter (tk-square-foot) landmark property currently has a primary focus on retail, with a 9,400-square-meter (101,000-square-foot) Real, a convenience store anchoring the property, along with Rossman and other well-known national retailers. Angelo Gordon and Kintyre plan an extensive capital investment and repositioning of the property, with plans to deliver a vibrant mixed-use, inner-city landmark next to the new Berlin city motorway, connecting Airport Berlin Brandenburg to the Media Spree district. This project is combining the functional live/leisure/work fundamentals that typifies Kintyre’s urban regeneration projects.
This is the second regeneration/redevelopment project that Angelo Gordon and Kintyre have