Signature Capital and PGIM Real Estate buy Berlin offices
A PGIM Real Estate partnership with Dublin-headquartered Signature Capital has acquired an office portfolio in the centre of Berlin which includes a space designated for redevelopment. The deal, for an undisclosed sum, comprises four office properties in the central districts of Mitte and Kreuzberg
Published -
Dec 11, 2019 7:44 PM
A PGIM Real Estate partnership with Dublin-headquartered Signature Capital has acquired an office portfolio in the centre of Berlin which includes a space designated for redevelopment. The deal, for an undisclosed sum, comprises four office properties in the central districts of Mitte and Kreuzberg with a total of around 32,000 sqm, as well as an additional fully permitted development of around 8,500 sqm. The properties to be developed in Mitte are former living spaces for seniors and will be converted into top-grade new office space. Kreuzberg, adjacent to Mitte was historically an industrial zone and is now a hotspot for start-ups and corporates alike, according to Signature Capital. This purchase from European real estate investor Patrizia AG and PGGM Private Real Estate marks the latest in a series of investments that Signature Capital and PGIM Real Estate’s European value-add debt strategy have jointly made over recent years.
Tags : INTERNATIONAL Signature Capital PGIM Real Estate Patrizia AG PGGM Private Real Estate