Allianz Real Estate Germany has acquired an 20,000-m[sup]2[/sup] office and retail asset in Berlin for about EUR 70 mln. The vendor of Friedrichstrasse 200 is a subsidiary of international real estate company Tishman Speyer.
Allianz Real Estate Germany has acquired an 20,000-m2 office and retail asset in Berlin for about EUR 70 mln. The vendor of Friedrichstrasse 200 is a subsidiary of international real estate company Tishman Speyer.
The property is located in the historic centre of Berlin, close to the former Checkpoint Charlie. It contains about 18,500 m2 of office space as well as some 1,600 m2 of retail space.
Tishman Speyer bought the asset in 2006 and subsequently increased the occupancy level from about 70% to 99%. The tenants include energy company GDF Suez Energie Deutschland and software firm Magix.
Allianz was advised by Linklaters, whereas Tishman Speyer was represented by White & Case. CB Richard Ellis acted as the broker of the transaction.
Allianz Real Estate Germany oversees a EUR 7 bn real estate portfolio in Germany, Austria, Switzerland, Eastern Europe and Scandinavia.
Tishman Speyer is a real estate owner, developer, operator, and fund manager. Since 1978, the company has acquired, developed and operated over 332 projects and a property portfolio of over $55.4 bn (EUR 40 bn) in total value across the US, Europe, Latin America and Asia.
Recently, Tishman Speyer completed and successfully sold OpernTurm office complex and has just started the development of TaunusTurm in Frankfurt/Main.
