Acting on instructions from a Berlin-based private investor, the real estate experts of Winters & Hirsch have brokered the sale of a mixed-use residential and retail building in Berlin’s sub-district of Tempelhof dating from 1895 to a foreign private investor.
The commercial property was sold at an initial yield of approx. 8 percent per annum.
Winters & Hirsch had been instructed to market the property by the seller in March 2012, and was able to wrap up the transaction within six weeks.
The parties have agreed not to disclose the purchase price.
The managing director of Winters & Hirsch, Philipp C. Tabert, stated that investment properties in the German capital had been going strong over the last months, particularly attracting private and institutional investors from abroad again.