Schroder Property has acquired the former headquarters of East Germany's news agency Allgemeiner Deutscher Nachrichtendienst (ADN) in Berlin for €34 mln.

Schroder Property has acquired the former headquarters of East Germany's news agency Allgemeiner Deutscher Nachrichtendienst (ADN) in Berlin for €34 mln.

The vendors were Patron Capital and German firm Suprema, which acted on behalf of Zurich Invest. The 16,000 m2 building was built in 1971 and is located near Berlin Alexanderplatz.

´The aquisition of this historic building in one of the fastest-growing areas of Berlin is a great diversifier for the German portfolio of the Property Europe Direct Fund,´ commented Tony Smedley, head of continental European investments at Schroder Property.