Fund manager Strategic Value Partners has added the Capri portfolio to its German real estate business. The properties include five mixed-use properties located in Berlin, Hamburg and Essen with a total lettable area of over 134,000 m2; a residential estate in Berlin, Spandau with 1,089 apartments totalling over 75,000 m2; an office space in the centre of Berlin and a DIY store in Lubbenau with over 25,000 m[sup]2[/sup] of lettable area.
Fund manager Strategic Value Partners has added the Capri portfolio to its German real estate business. The properties include five mixed-use properties located in Berlin, Hamburg and Essen with a total lettable area of over 134,000 m2; a residential estate in Berlin, Spandau with 1,089 apartments totalling over 75,000 m2; an office space in the centre of Berlin and a DIY store in Lubbenau with over 25,000 m2 of lettable area.
'There was significant interest from a number of international parties, as with a secure income stream the properties will provide significant potential for yield compression in the German economic recovery,' said Roy Frydling, head of Savills' Germany. The purchase price was not disclosed. Savills acted as adviser to the sellers together with Ernst & Young.
Strategic Value Partners Group is an investment manager with its headquarters in Greenwich, Connecticut and affiliated companies in Tokyo, London and Frankfurt. It manages fund investments totalling approximately $4.3 bn (EUR 3.27 bn). In the German-speaking countries, Strategic Value Partners focuses on commercial real estate and medium-sized companies.
