On behalf of two family offices, Pamera Real Estate Partners GmbH (PREP) has acquired an office and retail property in Berlin and an office property in Frankfurt am Main with a combined value of €22 million.
The fully leased property in Berlin is in an excellent location at Kurfürstendamm 201. It measures around 2,700 m² (about 29,062 ft²), of which about 80% is used as office and 20 percent as retail space. Pamera will take over the property, which was built in 1900 and redeveloped in 2012 and 2013, from a special fund of Union Investment.
The Frankfurt property is situated in a good location at Reuterweg 49 in the city's Westend district. Its approximately 1,700 m² (about 18,298 ft²) of office space is fully leased. The seller of the property, which was completed in 2003, is Deka Immobilien Investment.
Christoph Zapp, Managing Shareholder of Pamera Real Estate Partners: „We will continue in 2014 to look, on behalf of clients, for primarily mixed-use retail properties in good locations with prices ranging from around €5 to 15 million.“