Pamera Cornerstone Real Estate Advisers (Pamera Cornerstone) has acquired the Nauener Karree mixed-use scheme in the district town of Nauen near Berlin at a forced auction sale.
Pamera Cornerstone Real Estate Advisers (Pamera Cornerstone) has acquired the Nauener Karree mixed-use scheme in the district town of Nauen near Berlin at a forced auction sale.
Pamera Cornerstone has been awarded the asset management contract for the ensemble of buildings located at Dammstraße 7-9 / Oranienburger Straße by the new owner.
Built in 1994, the Nauener Karree is a local retail centre in the heart of the town and offers around 5,300 m2 of retail space. Its tenants include KIK, Netto, Rossmann and Ernstings Family. In addition, the property has 2,200 m2 of office, 460 m2 of residential space as well as around 300 car parking spaces.
Pamera Cornerstone said that there are plans to revitalise the retail structure while discussions are already in place to lease one vacant building offering around 2,000 m2.
Pamera Cornerstone is the German platform of the US-based Cornerstone Real Estate Advisers Group, the real estate subsidiary of the Massachusetts Mutual Life Insurance Company. Pamera Cornerstone has offices in Berlin, Düsseldorf, Frankfurt, Hamburg, Munich and London and currently has around €900 mln in assets under management.