Benson Elliot has acquired a 18,600-square-meter (200,000-square-foot) grocery-anchored retail asset from RDI REIT for €65.5 million ($77.2 million). Located in the Steglitz-Zehlendorf borough in southwest Berlin, it is the first investment undertaken by Benson Elliot since the onset of COVID-19.
Set in a highly visible and well-connected position on Schlossstrasse, one of the capital’s prime high streets and most affluent areas, the center benefits from direct access to the Walther-Schreiber-Platz U-Bahn station, and sits adjacent to one of Berlin’s busiest bus terminals. The property is arranged over the basement (U-Bahn egress), ground and first floors, with a 350-space car park located on two further upper levels. The center is 97 percent occupied, with a mix of national and international retailers and a convenience/value offering that has proven to be highly resilient to ecommerce penetration. Tenants include Germany’s second-largest supermarket chain, REWE; lea
