BNP Paribas REIM Germany and Cording Real Estate Group have acquired a second property for their Real Value Fund. The property is located in the Prenzlauer Berg district of Berlin, at Schönhauser Allee 120/122a. The buyers anticipate a further increase in the demand for office space close to the city centre. The property has a total floor area of around 13,500 sqm on six floors. On the ground and first floor there is approximately 3,000 sqm of retail accommodation. The upper floors of the building offer around 8,500 sqm of overall office space. The property, which dates back from 1996 and was partially modernised in 2016, also includes 158 underground parking spaces. The vendor is a joint venture between a fund advised by Tristan Capital Partners LLP and caleus capital investors. The parties have agreed not to disclose the purchase price.
