International real estate investment company Savills investment Management has successfully closed the sale of the Potsdamer Platz portfolio in Berlin to a subsidiary of Brookfield Property Partners. The portfolio has a combined rental space of 276,000m² and is one of the largest transactions in Germany since 2008. Ownership of the 17 properties was transferred to Brookfield at the beginning of January this year, a mere ten weeks or so after the agreement was signed.
Potsdamer Platz is one of Europe’s best-known urban quarters and has won multiple awards for its exceptional and ground-breaking architecture. In addition to seven office and five residential buildings, the mixed-use portfolio includes the Potsdamer Platz Arkaden shopping centre, a variety of entertainment venues such as the Cinemaxx cinema and the Stage Theater, the Mandala Hotel and some 30 restaurants and cafes, as well as more than 2,000 parking spaces in the underground car park beneath Potsdamer Platz.
Demand among international investors within Europe is at a high. Particularly in Berlin, the market is in a phase of high demand and low supply. “This extremely liquid environment showcases our strengths as an international investment platform – our presence on these markets enables our investors to systematically take advantage of both domestic and crossborder purchase and sale opportunities. Potsdamer Platz Quarter has seen extremely positive development over the years. The sale is a milestone in the continuing process of liquidating SEB ImmoInvest’s portfolio in the interests of investors”, said Axel Kraus, managing director of Savills Fund Management GmbH.
