French investment manager Amundi Real Estate has acquired the Rocket Tower office building in Berlin from a fund managed by JP Morgan Asset Management.
Amundi, supported by Paris-based L'Etoile Properties, carried out the transaction on behalf of an open-ended real estate fund. The investment volume was not disclosed.
L’Etoile Properties will manage the building.
Located at Charlottenstrasse 4 in central Berlin, the office building comprises a total lettable area of 28,200 m2, which is mainly let to Rocket Internet.
JP Morgan AM acquired the property in 2014 and signed a long-term lease with the internet provider shortly after taking ownership.
BNP Paribas Real Estate advised the seller in this transaction, together with Engel & Völkers Commercial. Hengeler Mueller provided legal advice for the seller and Clifford Chance acted on behalf of the purchaser.
