KanAm Grund Group’s Leading Cities Invest open-ended fund is acquiring a core office property in Berlin from local player Quest Investment.
Financial details were not disclosed.
The asset - the only remaining listed building designed by architect Paul Mebes - is being bought following extensive refurbishment. First built in 1913 in the classical style, the seven-storey property was previously let to Dexia Bank, with a new anchor tenant expected to move into the property in Q3 2021.
Savills brokered the deal. ‘The property is now being prepared for a new single tenant by undergoing full refurbishment and adding additional space. As a result, we were able to present KanAm with an exceptional premium asset in a prime location featuring a tenant with a strong credit rating,’ commented J. Philipe Fischer, director and head of Berlin Office, Savills Germany.
