Benson Elliot has bought two Berlin properties in a sale and leaseback deal.
The UK-based private equity real estate fund manager said it closed the acquisition of two office properties in the centre of the German capital from Berliner Volksbank.
Benson Elliot will lease back and refurbish the buildings in Budapester Strasse and Kurfürstenstrasse 87.
The firm said that, post-redevelopment, the transaction would cost approximately €100m.
Benson Elliot managing partner Marc Mogull said the firm had a positive outlook on the market.
The assets are being bought in a joint venture with Klingsöhr Projektentwicklung and Rockstone Real Estate.
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