Union Investment acquires further office/commercial building in central Berlin (DE)

Union Investment Real Estate GmbH continues to expand its real estate portfolio in Germany. Just a few weeks after the acquisition of Rosmarin Karree, the Hamburg-based investment management company has acquired a further office/commercial building in downtown Berlin.

The property, Neue Promenade 6, will be added to the portfolio of the DIFA-Fonds Nr. 3 special fund. The building is nearly fully let and centrally located close to the Museum Island on Hackescher Markt square. The tenants include Stiftung Mercator and the European Climate Foundation. A long-established Italian restaurant, Trattoria Ossena, is located on the ground floor.

Built in 1888, the historical building was completely renovated in 2010. It offers approximately 3,140 m² of rental space in total, of which 2,169 m² is devoted to offices and 523 m² to retail and catering.

The vendor is a private real estate investor. Details of the purchase price were not disclosed.

Union Investment was advised on the transaction by Immologie GmbH, Frankfurt/Main. The vendor was advised by law firm HauckSchuchardt, Frankfurt/Main.

Source: Union Investment Real Estate GmbH

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