Deka Immobilien sells Berlin property to optimise portfolio

Deka Immobilien has sold the "Schönhauser Tor" building in Berlin to an institutional investor for an undisclosed price.

Schönhauser Tor at Torstraße 49 in Berlin-Mitte

The building, which was part of the Deka-ImmobilienEuropa fund, features eight stories with approximately 16,200 m2 of rentable space, of which 14,700 m2 is office space, 950 m2 is retail space, 570 m2 is storage space and 124 parking spaces.

The property is currently about 80% occupied.

Deka Immobilien originally purchased the property in 1993 and sold it now to optimise its portfolio, seizing a favourable market opportunity.