Becken acquires Berlin shopping center from Credit Suisse Asset Management

Becken, a specialist for the development and revitalization as well as asset, sale and investment management of commercial and residential real estate, has acquired RingCenter III, a shopping center in Berlin. A Credit Suisse Asset Management investment fund sold the property for an undisclosed amount.

The four-story property is fully leased to the Galeria Karstadt Kaufhof department store chain and provides some 13,500 square meters (145,312 square feet) of floor area.

“The RingCenter III shopping center, with its highly convenient public transport links and its urban location on the district boundary between Friedrichshain and Lichtenberg, implies optimal geographic parameters,” said Roland Köppe, authorized signatory and head of acquisition at Becken in Berlin. “With this acquisition, Becken has expanded its involvement in Berlin’s real estate market, now owning three sites.”