Deka Immobilien has sold the “Schönhauser Tor” office and retail property in Berlin-Mitte from the portfolio of its Deka-ImmobilienEuropa open-ended real estate fund to an institutional investor. The parties agreed not to disclose the purchase price.
The eight-storey mixed-use complex at Schönhauser Tor comprises approximately 16,200 sqm of lettable space. Around 14,700 sqm is dedicated to office use, while retail space accounts for roughly 950 sqm. The property also includes 570 sqm of storage space and 124 parking spaces.
The building is currently around 80 percent occupied. Deka Immobilien originally acquired the asset in 1993.
According to the company, the transaction was completed as part of portfolio optimisation measures, with the fund management taking advantage of current market conditions to execute the sale.