Deutsche Investment just sold an office property in Berlin for €43.5 million ($tk million), significantly boosting the performance of its institutional property fund in the office asset class.
The property was bought by CLS Holdings pls, a pan-European investor in commercial real estate listed on the London Stock Exchange (FTSE 250).
The property, which had been acquired for the Deutsche Investment – Büro I separate asset pool in September 2018, was successfully sold in conjunction with a portfolio optimization.
Built in 1996, the six-story office property is located on Kaiserin-Augusta-Allee in the northwest part of Berlin’s Charlottenburg district, and consists of two adjacent buildings directly overlooking the River Spree. The leasable area adds up to approximately 8,700 square meters (tk square feet), complemented by 93 tenant parking spots. The direct riverside location and the convenient transport links underscore the property’s locational quality
