Real IS has sold Hofgarten, a retail and office property located in Berlin-Mitte to Triuva for an undisclosed sum.
The 8,500 m2 property, situated at Friedrichstraße 79/80, is laid out over seven stories and is anchored by Swedish retailer H&M.
'The sale of the Hofgarten property in one of Berlin’s most famous streets has enabled us to raise earnings very significantly for the investors of Bayernfonds Berlin-Hofgarten,' commented Georg Jewgrafow, Chief Executive Officer of Real IS.
According to Triuva, the deal takes its German acquisitions to around €500 mln. Berlin remains a key focus for the company.
'The demand for office and retail property continues to run at a high level, especially in prime locations such as Friedrichstraße,' said Wenzel Hoberg, Triuva's CEO.
Triuva's legal advisors were GSK Stockmann + Kollegen. Technical advice was provided by URS Deutschland.
Savills Immobilien advised Real IS on the sale, while Heussen Rechtsanwaltsgesellschaft provided legal support.
