Prupim completes EUR 57m warhouse deal in Berlin

Prupim, the UK real estate investment manager, has completed the purchase of the Kaiser Tengelmann Warehouse in Berlin for EUR 57mln on behalf of the M&G European Property Fund. Built in 2004, the single storey, Grade-A asset comprises over 35,000 m[sup]2[/sup] of logistics space and almost 4,000 m[sup]2[/sup] of office space. The property generates an annual rent of EUR 3.7mln, reflecting a net initial yield of 6.5%.

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