German fund manager Deka Immobilien has acquired an office development in Berlin in a deal believed to be worth as much as €270 mln, according to a report in Thomas Daily.
The property, dubbed Südkreuz Offices, comprises 19,700 m2 of office space plus 2,600 m2 of retail across two buildings and is situated in Tempelhof-Schöneberg, served by the Berlin Südkreuz transport hub. The development also includes 234 parking spaces and 136 slots for bicyles.
The asset was acquired from developer Ludger Inholte Projektentwicklung (LIP), which performed the topping out ceremony for Südkreuz Office 1 & 2 in November of last year, alongside project manager KVL Bauconsult.
The German space agency DLR pre-leased 7,100 m2 of offices in the scheme in the second quarter of 2020, to house the latest Berlin location of the Deutsches Zentrum für Luft- und Raumfahrt.
Designed by architectural studio Hadi Teherani Architects and pbp - prasch buken partner, the project is expected to reach completion in the second quarter of this year. It is anticipating Leed Gold certification.
The report suggests that Angermann Berlin brokered the off-market deal.