US developer-investor Tishman Speyer is reportedly buying back The Q mixed-use complex in Berlin for a price of €335 mln from Spanish private bank Banif and investor Pontegadea, owned by Inditex founder Amancio Ortega.
US developer-investor Tishman Speyer is reportedly buying back The Q mixed-use complex in Berlin for a price of €335 mln from Spanish private bank Banif and investor Pontegadea, owned by Inditex founder Amancio Ortega.
According to a news report in German trade publication Immobilien Zeitung, Tishman Speyer is acquiring the office and retail asset eight years after having sold it to the Spanish investors in 2007 for €275 mln.
The complex, located at Friedrichstrasse 70 in Berlin, was developed by Tishman Speyer and officially opened in 1996 as Quartier 205, before rebranding in 2011.
It comprises approximately 32,000 m2 of office space and 17,000 m2 of retail accommodation.
Tishman Speyer declined to comment.
