German property investor and asset manager Aik Immobilien has acquired a retail property in Berlin’s main shopping district Neukölln for around EUR 57 mln. The vendors were B&L Group and Centrum Holding.
German property investor and asset manager Aik Immobilien has acquired a retail property in Berlin’s main shopping district Neukölln for around EUR 57 mln. The vendors were B&L Group and Centrum Holding.
The recently refurbished property was previously a Hertie department store and provides some 11,400 m2 of space. It is almost fully let, with tenants including fashion retailers C&A and H&M as well as food stores Rewe and Aldi.
Aik Immobilien said the property benefits from ‘the synergy effects’ of its location on the Karl-Marx-Straße next to shopping centre Neukölln Arcaden.
Dusseldorf-based Aik bought the asset on behalf of an international fund. IAM Immobilien Asset Management advised on the transaction.
Aik Immobilien-Kapitalanlagegesellschaft is an internationally active joint venture company of German occupational pension funds and Deutsche Apotheker- und Ärztebank, Germany’s leading financial service provider for the healthcare sector. Aik currently manages 155 office and retail buildings in the UK, France, Belgium, the Netherlands, Luxembourg, Austria, and Germany with a total volume of more than EUR 2 bn.
