Deutsche Asset & Wealth Management (DeAWM) has acquired parent company Deutsche Bank’s office in Berlin for around €150 mln from Cologne-based developer Art-Invest.
Deutsche Asset & Wealth Management (DeAWM) has acquired parent company Deutsche Bank’s office in Berlin for around €150 mln from Cologne-based developer Art-Invest.
The property at Otto-Suhr-Allee 6-16 in the Charlottenburg district of Berlin includes a building dating from the 1960s which was refurbished in 2003 and a new section which will offer 2,500 additional work spaces when it is completed in 2016.
On completion, Deutsche Bank will occupy a total of around 38,900 m2, with both buildings set to receive LEED gold certification.
The property will be added to open-ended property fund grundbesitz europa, boosting the number of assets to 49 with a combined value of €4.3 bn.