A consortium led by Berliner Sparkasse is financing the renovation of the former Kudamm-Karree complex in Berlin City West.
Berlin Sparkasse is joining forces with lenders DZ Hyp, Pbb, Investitionsbank Berlin and Berliner Volksbank to provide a €565 mln financing facility for the redevelopment project, which comprises 107,000 m2 of leasable space.
The complex, which is due to be completed by 2023, comprises 53,000 m2 of office space, 14,000 m2 of retail and restaurant accommodation, a 10,000 m2 hotel as well as a theatre and a museum on a total of 8,800 m2.
The ensemble is owned by Ionview Holdings, a subsidiary of the Dayan Family Office of Israeli businessman Amir Dayan. Ionview bought the complex in autumn 2019 from Russian investor Mikhail Opengeym for a price said to be around €700 mln.
Munich-based The Cells Group is responsible for the new development.
