Commerz Real has sold the Berlin office and business complex Wilmersdorfer Straße 117 / Pestalozzistraße 77 from its open-ended real estate fund hausInvest to Quantum Immobilien Kapitalverwaltungsgesellschaft mbH. Quantum has acquired the property for an individual fund. JLL brokered the transaction on behalf of Commerz Real. It was agreed that confidentiality be maintained on the purchase price. The property, which is centrally located in Berlin’s Charlottenburg Wilmersdorf (City West) district, with office, retail trade and residential areas was transferred to the hausInvest fund in 1999 as a project development and was completed in 2002.
The property encompasses a total leasable area of approx. 5,350 square metres and has a broad industry and tenant mix. Around two thirds of the total area is leased to the high-selling retailers Rossmann and Tiger Trading, with the remaining third used as office and residential areas. The current market cycle was utilised for the transaction; this is characterised by a clear rise in investor demand for commercial real estate.
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