A fund managed by the real estate investment arm of Italian insurer Generali has bought a prime high street retail and office complex in Germany’s capital.

Generali Real Estate’s pan-European Generali Core High Street Retail Fund has invested an undisclosed amount to buy part of the Gloria retail and office building complex in Berlin.

Generali Real Estate said the asset, acquired from German developer Centrum Group, is composed of two buildings, a historical one and a modern one. Originally built in 1894, the Gründerzeit building recently underwent a major refurbishment designed by Kahlfeldt Architekten. The new building was completed this year.

Located in City-West on Kurfürstendamm 13-15, the acquired asset comprises 11,000sqm of retail units and office spaces, Generali Real Estate said.

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