Germany’s Vivico Real Estate has sold its ‘Römischen Hof’ (Roman Court) office building on one of Berlin’s most prominent boulevards, ‘Unter den Linden’, to a private investor, the company said. No financial details were disclosed.
Germany’s Vivico Real Estate has sold its ‘Römischen Hof’ (Roman Court) office building on one of Berlin’s most prominent boulevards, ‘Unter den Linden’, to a private investor, the company said. No financial details were disclosed.
The property offers approximately 9,500 m2 of commercial space. Kemper’s Jones Lang LaSalle advised the seller. The building was built in 1865 as Hôtel de Rome, and was redeveloped as an office building in 1910. It is rented out to a Ferrari dealer on the ground floor as well as telecoms provider E-plus and several legal firms.
JLL said the transaction marked the second disposal of a landmark building in the Germany capital in the past few weeks, after the disposal of the prime retail property ‘Die Mitte’. Björn Gottschling, head of JLL’s Retail Capital Markets Berlin said: ‘The two transactions show that after a longer phase of hesitance, the investment market in the capital is starting to move again.’ Rüdiger Thräne, head of JLL Berlin added: ‘There are definitely interested parties for prime property. With the ending of the third quarter Berlin’s transaction volume has improved again to levels we saw in the spring’.
