Sonar Real Estate acquires Berlin mixed-use property

Sonar Real Estate, acting as a transaction manager, has facilitated the purchase of the Topas Arkade, a prominent office and retail property in Berlin-Mitte, for a European foundation. 

Topas Arkade, Berlin - Sonar Real Estate

The seller was UBS Real Estate, and the acquisition followed a competitive bidding process managed by BNP Paribas Real Estate.
The Topas Arkade, known for its distinctive collonaded façade, is situated at Friedrichstrasse 153a. Originally built in 1900, it underwent an extension in the 1950s and a comprehensive modernisation in 1998. 
The seven-storey building offers approximately 5,600 m2 of rentable space. This includes around 4,200 m2 of office space and about 1,100 m2 dedicated to retail and food & beverage establishments.
Nick Puschkasch, managing partner at Sonar Real Estate, said: “Topas Arkade is a prominent city centre asset with a solid income base. In the current market environment, it is clear that selected, core-plus properties in established locations continue to offer compelling prospects, particularly for investors taking a selective and long-term approach.” 
P+P Pöllath + Partners Rechtsanwälte und Steuerberater, CBRE and Witte Projektmanagement advised the buyer, while GSK and Revacon acted for the seller. 
Berlin-based 3PM will manage the property moving forward.