Allianz Real Estate Germany GmbH has added to its Berlin portfolio. After buying the office and retail block at Friedrichstrasse 200 last summer, it has now signed the purchase contract for Quartier 207, an office, shopping and residential development at Friedrichstrasse 7678 in central Berlin.
With tenants including luxury Parisian department store Galeries Lafayette, Quartier 207 was sold by a Luxembourg investment company. Allianz Real Estate Germany bought the property on behalf of German Allianz insurance companies. Both parties have agreed not to disclose transaction details.
With its modern architecture and enjoying a prime location for retail outlets and offices, Quartier 207 is a symbol of Berlin. Its biggest tenant is the German branch of famous Galeries Lafayette, which by itself attracts thousands of shoppers every day. Quartier 207 is part of the FriedrichstadtPassagen shopping complex.
Designed by internationally renowned architect Jean Nouvel, it was completed in 1996 and contains 35,000 m² of usable floor space. Office tenants include Berlin Energy Agency as well as medical, real estate, marketing and sales companies.
"This development containing Galeries Lafayette makes an ideal addition to our property portfolio," declared Stefan Brendgen, CEO of Allianz Real Estate Germany GmbH.
"After buying Friedrichstrasse 200 last year, we've invested in Berlin again a city which we feel has great potential. With Quartier 207 we've managed to acquire one of the most striking and attractive properties on Friedrichstrasse and as planned have expanded our position in the retail segment."
Source: Allianz Real Estate GmbH