CA Immo divests office building in Berlin

CA Immo has sold an office building at Kirchstrasse 6, 7, 12 in Berlin's Moabit district. 

Kirchstrasse, Berlin

The property, built in 1994 and totalling approximately 29,700 m2 with 111 underground parking spaces, is currently used by the State of Berlin for the Tiergarten District Court and the Berlin Administrative Court, generating around €5 million in annual gross rental income. 
This sale aligns with CA Immo's strategy to focus on modern, flexible Class A office properties in prime central locations, and the large transaction reinforces its capital allocation towards its core business.
Hedwig Höfler, Group head of Investment Management at CA Immo, said: "With the sale of the property we are consistently pursuing our portfolio strategy. As a specialist investor in modern office properties in central locations, we focus on properties where we can create additional value through active asset management and targeted investments. The proceeds from the sale strengthen the capital allocation in our core business and enable us, for example, to reinvest in our Berlin development projects."