Arab Investments buys Berlin's Zehlendorfer Welle for EUR 70m

By A staff reporter 2009-05-15T00:00:00+01:00

London-based Arab Investments has bought the Zehlendorfer Welle property in Berlin from developer OFB Projektentwicklung GmbH for some EUR 70 mln.

London-based Arab Investments has bought the Zehlendorfer Welle property in Berlin from developer OFB Projektentwicklung GmbH for some EUR 70 mln.

The property is earmarked for the group's first German Sharia-compliant fund. Helaba is providing financing for the transaction. The property consists of a total 23,000 m² of space, of which 6,000 m² is destined for retail use with most of the space let to C&A and Saturn. Savills brokered the transaction.