Halverton Real Estate Investment Management has purchased a property in Berlin located at Porschestraße 2-20. The vendor was Deutsche Structured Finance. The property's usable floor space amounts to 17,000 sq.m. Around 3,200 sq.m. is used as offices and 13,800 sq.m. as warehousing by the Rieck logistics group. Cushman & Wakefield Healey & Baker acted as consultants to Halverton for the transaction, which was worth around EUR 9 million.
Halverton has already invested some EUR 160 million in expanding its German real estate portfolio and intends to increase the portfolio to EUR 400 million by the end of this year.