Rockspring Property Investment Managers is buying the Berlin headquarters of Coca-Cola from Deka.
The property has been bought for €59m for Rockspring’s open-ended core fund, the PanEuropean Property Limited Partnership.
The 10,000 sqm building in Berlin has been occupied by Coca Cola since 2013.
Stuart Reid, partner at Rockspring, said the firm has been focusing on the Berlin office market over the past 18 months and the deal is its third office purchase in the German capital.
“With excellent tenant demand driven by strong population and job growth, set against the limited development pipeline, the Berlin office market fundamentals are very favourable for investment.”
Reid said the property is “significantly under-rented and offers a very secure income in an improving market with strong macro and micro dynamics”.
He added: “We have considerable capital available for further investment into this market and are actively exploring other opportunities with an eye especially for value-add offices.”
