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A joint venture between Skjerven Group and Europa has sold a residential and commercial property at Keithstraße 14 in Berlin's Schöneberg district. The buyer is a family office – Telegraph Immobilien GmbH under the umbrella of BRANT ESASA. The transaction was brokered by Knight Frank. The seller side would be advised in this transaction by lawyer Esfandiar Khorrami (BK Law). The parties have agreed not to disclose the purchase price.
The house in Keithstraße is a building from the Wilhelminian period (built in 1900) with a total rental area of 3,160 square meters spread over 17 apartments and 14 commercial units. The property was extensively revitalised in 1996 and is located in an exclusive location in the heart of City West – just a few steps away from Kurfürstendamm, KaDeWe and the Zoologischer Garten. Excellent local amenities, excellent transport connections and the high attractiveness of the surrounding quarter underline the sustainable demand for residential and commercial space.
In recent years, Skjerven Group and Europa have optimised the tenant structure in the commercial part and significantly increased the overall rent level in the building in line with the business plan. The tenant structure is diversified and includes lawyers, medical practices, consulting services and residential units.
"The transaction confirms the high interest of long-term investors in high-value real estate in Berlin," says Einar Skjerven, Managing Director of the Skjerven Group. "The city is and remains one of the most liquid locations on the continent and is particularly interesting for risk-averse investors due to its stable economic development."
