German asset manager Caleus Capital Partners has taken full ownership of an office complex in Berlin Mitte’s office district.

CCP IV, a core-plus fund advised by Tristan Capital Partners, has sold its interest in the four buildings for around €95m.

Caleus acted as Tristan’s original co-investor and local asset management partner when the building was acquired in December 2015.

Jean-Philippe Blangy, the head of asset management, at Tristan said: “This marks another successful sale in Berlin following the disposals of Jannowitz Centre, Rathaus Mitte, Schönhauser Allee, and Schicklerhaus over the last few years, for almost half a billion euros.”

All these investments have employed the same discipline; capitalising on robust rental growth driven by economic growth and the migration of businesses to Berlin, which have boosted take-up for quality, well-located office space in this supply constrained market, Blangy said.

”These fundamentals make Berlin highly attractive for institutional investors, offering the potential for further rental growth in the medium term.”

Ali Otmar, a senior partner and deputy head of investments at Tristan, said: “Germany remains a strategically important market for us and Berlin’s importance continues to grow internationally, with large global institutions waking up to the city’s unique supply and demand imbalance.

“As we expect this strong momentum to continue in markets outside of the gateway cities, we are concentrating on good office properties with upside potential in large mid-sized cities such as Berlin, Munich, Frankfurt and Hamburg.”