Allianz Real Estate Germany has purchased the Stettiner Carree office building in Berlin's Mitte district from private equity investor Global Asset Capital.
Allianz Real Estate Germany has purchased the Stettiner Carree office building in Berlin's Mitte district from private equity investor Global Asset Capital.
The €210 mln acquisition was completed on behalf of various Allianz companies.
Constructed in 2004, the office building is fully rented out to German rail operator Deutsche Bahn on a long-term basis and offers 61,500 m2 and 470 parking spaces. Upon completion in 2005 the scheme was bought by Deutsche Bank's RREEF for its grundbesitz europa open-ended fund for €160 mln.
'Berlin is a dynamic office market. With the acquisition of the Stettiner Carree we are growing our exposure in Germany’s capital city,' said Annette Kröger, CEO of Allianz Real Estate Germany.
