Deka Immobilien has successfully sold the office property “Schönhauser Tor” at Torstraße 49 in Berlin-Mitte at a profit from the portfolio of its open-ended real estate fund Deka-ImmobilienEuropa after a holding period of almost 30 years. The buyer is an institutional investor. The parties have agreed not to disclose the sales price.
Completed in 1996, the property – named after the historic Berlin city gate formerly located on today’s Torstraße – is situated in a central location in the Prenzlauer Berg / Berlin-Mitte district and comprises approximately 16,191 sqm of lettable space. The building complex consists primarily of office space across eight upper floors and two basement levels, including an underground car park with 124 parking spaces. Retail units and a café are located on the ground floor.
With this transaction, Deka Immobilien has taken advantage of an attractive opportunity to strategically optimise the structure of fund portfolio.
“Schönhauser Tor” at Torstraße 49 in Berlin-Mitte