German developer-investor Momeni has acquired a property in Berlin Mitte from German-Irish investor Signature Capital in an off-market deal.
Financial details were not disclosed, but local press reports said Momeni paid €80 mln.
Momeni will transform the building at Magazinstrasse 6-7 into a modern office building.
The property, built in 1911, has six upper floors with an approximate gross floor area of approximately 14,000 m2.
'With this transaction, we were able to realise another successful sale in the Berlin market,' said Frederick Hoenemann, head of transactions at Signature Capital.
The asset is situated between Alexanderplatz and Mediaspree, in what Signature Capital describes as a 'highly desirable' location.
Lambsdorff Rechtsanwälte advised Signature Capital, while Norton Rose Fulbright advised Momeni on the acquisition side.
Angermann Investment Advisory Berlin acted as the broker.
