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Sign in Sign up for a FREE subscriptionGenerali, Poste Vita JV acquires another asset for €200m
Generali Real Estate and its joint venture partner life assurance fund Poste Vita have acquired the office project development “The Westlight” in Berlin from Barings Real Estate.
The sales price was estimated to be €200 million ($228 million).
The acquisition is part of the new €400 million ($456 million) European real estate joint venture.
The Westlight is an office development currently under construction in the commercial and business area of Berlin’s City West, opposite the main entrance to the Zoological Garden.
The 15-story building is located at Budapester Strasse 35 and will offer 19,500 square meters (210,000 square feet) of office and retail space once completed.
The transaction marks the joint venture’s second purchase after the closing of the Marienforum acquisition in Frankfurt earlier this year.
