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Berlin: "Neukölln Arcaden" go to Deutsche Asset
Tristan Capital Partners has announced the sale of the "Neukölln Arcaden" in Berlin. The new owner will be Deutsche Alternative Asset Management UK Limited, a company of Deutsche Asset Management. Reports of the deal were initially made as early as May. The shopping centre at Karl-Marx-Straße was opened in 2000 and covers 37,500 sqm as well as approx. 600 parking spaces. Currently, about 95% of the space is let. Tristan purchased the property in 2014 for the Curzon Capital Partners III (CCP III) fund and paid at that time €65.5mn. CCP III was advised by JLL, Greenberg Traurig and PwC on the current sale.
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