Meyer Bergman has acquiredthe Karstadt department store on the Hermannplatz in the center of Berlin using capital from Meyer Bergman European Retail Partners II. The approximately 650,000-square-foot retail property was acquired for €60 million with 65 percent of all-in cost financing from HSH Nordbank. Markus Meijer, CEO of Meyer Bergman, has confirmed the acquisition.
The fund has been very active, acquiring a multi-use property on Paris’s Champs-Elysées for €245 million in November, as well as Calle Serrano 60 in Madrid from Caixa Bank for roughly €50 millionthis past summer and a 550,000-square-foot retail property in Bradford, England, for €250 million in 2012. The recent acquisition is “a deal that