A joint venture partnership between Angelo Gordon and Kintyre has acquired Park Center Treptow in Berlin. The 28,000m² landmark property currently has a primary focus on retail, with a 9,400m² Real, convenience store anchoring the property, along with Rossman and other well-known national retailers. Angelo Gordon and Kintyre plan an extensive capital investment and repositioning of the property, with plans to deliver a vibrant mixed-use, inner-city landmark next to the new Berlin city motorway, connecting Airport Berlin Brandenburg to the Media Spree district. This is the second regeneration/redevelopment project that Angelo Gordon and Kintyre have acquired in Berlin together in the past 18 months.
Adam Pearce of Kintyre said: "This is a very exciting opportunity to transform this very well-known property into a modern mixed-use precinct. This acquisition forms part of Kintyre’s wider strategy of building a portfolio of well-located urban regeneration and ‘Stadtquartier’ development projects.”
Marcel Hertig of Angelo Gordon said: "We really like the immediate neighbourhood of Park Center with all of its hip bars, clubs and event spaces between Elsenbrücke and Oberbaumbrücke. Located next to S-Bahn ‘Treptower Park’, the asset has tremendous potential for creative ideas that we plan to unlock with our partner Kintyre."
