Schroder Property buys €34m Berlin office
Schroder Property has confirmed the acquisition of a €34m office building in Berlin from Patron Capital and Suprema GmbH on behalf of Zurich Invest.
The ten storey building is located near Berlin Alexanderplatz and provides 16.000 square metres of office space. Built in 1971, it is the former headquarter of DDR newsagency Allgemeiner Deutscher Nachrichtendienst (ADN).
“The aquisition of this historic building in one of the fastest growing areas of Berlin is a great diversifier for the German portfolio of the Property Europe Direct Fund,” comments Tony Smedley, head of continental European investments at Schroder Property.