Redevco, the Pan-European retail real estate investment manager, acting on behalf of one of its investor clients, has acquired a super prime retail asset in Tauentzienstraße 16 in Ber-lin/Germany from a private investor. The property is located at the corner of Tauentzienstraße and Marburger Straße in close proximity to internationally renowned luxury department store “KaDeWe” and thus in a super prime retail location of Germany’s capital city. The amount of the transaction is not being disclosed.
The building has a listed façade and consists of six floors including a basement with a com-plete floor area of over 4,000 sqm. The main tenant, perfumery chain Douglas, occupies an impressive corner unit on the ground and first floors, featuring approx. 18 metre shop fronts to each side stretching over both floors.
Andrew Vaughan, CEO of Redevco, said: “Berlin ranges amongst the most sought-after loca-tions for investments in retail real estate in Europe, and within Berlin, Tauentzienstraße is un-disputedly the retail hot spot. The Redevco investment strategy aims exactly at future-proof properties and locations like this.”
Redevco was advised by McDermott Will & Emery. The transaction was brokered by UBS Real Estate Advisory.