Real assets manager Patrizia has bought a central Berlin office, saying that it is confident in the future performance of well-located assets in the sector.
The building was bought from Real Capital Holding, an investment manager focused on real estate in Germany, for an undisclosed sum.
The property comprises over 13,000 sqm of space and is said to be almost entirely let for around three and half years to a German company.
Ulf Christiansen, head of acquisitions value add at Patrizia, said: “Despite the challenges of Covid-19, we are confident in the future of well-located offices in key locations such as central Berlin.”
Patrizia manages more than €46 billion in assets and employs over 800 people at 24 locations worldwide.
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