Deutsche Real Estate sells Osram-Höfe for €225mn


Summit subsidiary Deutsche Real Estate reports having sold the Carrée Seestraße in Berlin’s Wedding district for €225mn. As TD learned, the buyer is Cording Real Estate Group. It is understood that the initial yield for the former Osram lamp factory with a GFA of 60,000 sqm and about 25 % vacancy is just under 3 %. Cording did not confirm that information; BNP Paribas Real Estate and Cushman & Wakefield, who advised the seller and buyer, also declined to comment. DRE merely states that the sale has a positive effect of about €16mn on pre-tax earnings for the current business year.

TD Premium

Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.

TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.