Schroder Property has acquired the Muratti-Höfe office property in Berlin for €28.7 mln, reflecting an initial yield of just over 6%.
Schroder Property has acquired the Muratti-Höfe office property in Berlin for €28.7 mln, reflecting an initial yield of just over 6%.
The vendor was Italian real estate asset manager EstCapital SGR, which was advised by Cushman & Wakefield.
The 11,000 m2 property, a former cigarette factory which was redeveloped in 2010, is located between the Mitte and Kreuzberg districts of the German capital. It is fully let to two major tenants in the services and online trading sectors and provides 52 parking spaces.
Schroder said it was looking for further acquisitions in the core/core-plus and value add sectors in Germany with price tags starting from €20 mln.
