A fund managed by Germany’s KGAL Group is buying Jannowitz Center in Berlin for €79m. The sellers are EPISO 3, an opportunity fund managed by Tristan Capital Partners, and Cornerstone Real Estate Advisers. EPISO 3 and Cornerstone were advised by CBRE, JLL and Olswang/Greenberg Traurig.
Built in 1997, the office center offers 32,500 sqm on 10 floors. Anchor tenants include the City of Berlin, DAK and Techniker Krankenkasse, which together occupy more than 20,000 sqm.
