Real estate multi-family office PAMERA Real Estate Partners has acquired a residential and commercial property at Markgrafenstraße 22 in Berlin's Mitte district as co-investor with a Swiss-based family office. The seller is Barmenia Krankenversicherung a.G.
Built in 2001, the property is fully leased, with total leasable space of about 5,200 m². More than 3,900 m² is allocated to offices and about 750 m² to residential space. About 370 m² is used by retailers and 125 m² is warehouse space.
In addition, PAMERA Real Estate Partners will take on the asset management contract jointly with the Berlin branch of PAMERA CORNERSTONE Real Estate Advisers. Situated in a high-profile location, the property may potentially benefit from rent increases as commercial leases are due to expire in the short and medium term.
It is in close proximity of Potsdamer Platz and Leipziger Platz, the government district and Berlin's Schauspielhaus theatre. The deal was brokered by Angermann real estate agents.
Christoph Zapp, Managing Shareholder of PAMERA Real Estate Partners: "The purchase is our first co-investment made jointly with the Swiss-based family office. As both parties are aiming for long-term co-operation, we are on the look-out for similar investment opportunities for this client throughout Germany."
Source: PAMERA Real Estate Partners