Triuva buys Shell building in Berlin
Triuva (formerly IVG Institutional Funds) has purchased the Shell building in Berlin’s Tiergarten area of Mitte for about €80mn. A subsidiary of Orion European Real Estate Fund IV, C.V., sponsored by Capital Managers, was the seller. The property built from 1930 to 1932 at Reichpietschufer 60-62 has been listed as an historical building since 1958. With a GFA of 18,378 sqm, it has been fully occupied by Germany’s Federal Ministry of Defense since 2012. Triuva was legally advised by Clifford Chance, and for technical due diligence by Drees & Sommer. JLL and law consultant firm King & Spalding supported the seller.
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