A commercial property acquired in Q3 2012 by a subsidiary of Real Berlin III (Offshore) and co-investors. The property is an office building located in the Media Spree (Friedrichshain), a fast expanding area of creative and media firms. The property was constructed in 1996 with 6,201m² of rentable area including underground parking.
Since the building is located in an upcoming and dynamic area, the strategy is to hold it for the long-term and benefit from the high yield while trying to maintain full tenancy through proper asset management. Real Capital has structured the transaction, secured financing, and will manage the property.