Deka Immobilien has sold the Edison Höfe office and business complex in Berlin-Mitte. The buyer is an institutional investor. The property comes from the portfolio of the open-ended real estate fund WestInvest ImmoValue, which is aimed exclusively at institutional investors. The purchase price was not disclosed.
The complex at Invalidenstraße 116-119/Schlegelstraße 26, 26A-C consists of a total of eight office and commercial buildings with a lettable area of 27,700 sqm and 129 parking spaces. It consists of the new Torhaus building, completed in 2012, and the former AEG factory building, which was built in 1880 and completely renovated and extended between 2002 and 2004.
With this sale, the fund management of WestInvest ImmoValue is taking advantage of a market opportunity to sell the property after almost 13 years well above the purchase price.
