Sonar Real Estate (Sonar) has advised a European foundation as transaction manager on the purchase of the office and retail property “Topas Arkade” in Berlin-Mitte. The seller is UBS Real Estate GmbH. The acquisition was made as part of a bidding process conducted by BNP Paribas Real Estate.
The striking building with its columned façade is located at Friedrichstraße 153a. It was built in 1900 according to plans by the architect Alfred Breslauer, expanded in the 1950s and extensively modernized in 1998. The property comprises a total of around 5,600 m² of rental space spread over seven floors. Of this, around 4,200 m² will be office space and around 1,100 m² retail and catering space.
“The ‘Topas Arkade’ stands for a striking inner-city property with a solid income base. In the current market environment, it is clear that selected core-plus properties in established locations continue to offer convincing prospects, especially for investors who take a selective and long-term approach,” Nick Puschkasch, Managing Partner of Sonar Real Estate, is convinced.
P+P Pöllath + Partners Rechtsanwälte und Steuerberater mbB, CBRE and Witte Projektmanagement acted as advisors for the buyer side and GSK and Revacon for the seller side.
3PM from Berlin will take over the property management of the property.
