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Sign in Sign up for a FREE subscriptionLBBW to provide €1.1b financing for the Potsdamer Platz redevelopment
LBBW has agreed to provide €1.1billion ($1.3 billion) of long-term financing to Brookfield Properties for the redevelopment of the Potsdamer Platz in Berlin, Germany.
Since December 2015, the Potsdamer Platz (consisting of 17 buildings, 10 streets and two squares) has been managed by global real estate services company Brookfield Properties.
The quarter’s total rental space spans some 270,000 square meters (tk square feet) and has been awarded the silver certificate by Germany’s DGNB (German Sustainable Building Council). Among the office tenants are well-known firms such as Bain & Co., Bombardier and Pfizer.
Brookfield Properties has achieved over 90 percent occupancy (as of autumn 2018) across the portfolio following the acquisition and repositioning of the estate. In addition to the replacement of a bank consortium, the work will also include a comprehensive repositioning of the retail space inside the Potsdamer Platz Shopping Arkaden. The constru
