Centerscape has acquired the 13. property in the region. The latest acquisition, a retail unit on the ground floor of the SAPPHIRE in Chausseestraße, comes with a long-term lease contract with EDEKA, the food retailer.
The seller was a joint venture of two Berlin property developers, econcept and Minerva.
Winters & Hirsch has successfully advised on the sale.
The property Chausseestr. 43 / Schwartzkopffstraße 1 lies in Berlin’s Mitte district, opposite the new headquarters of the Federal Intelligence Service.
Completed in February 2017, the SAPPHIRE is of particular architectural importance for the Mitte district and Berlin. It is the first residential building by New York star architect Daniel Libeskind in Germany. The silver-bluish ceramic-titanium facade and the asymmetric cubature lend a whole new quality to the Chausseestraße area. A unique residential and retail building, the SAPPHIRE is a landmark resembling the cutting and sparkle of a sapphire.
The new building has 73 condominiums, including penthouse apartments. The retail unit on the ground floor sold by Winters & Hirsch has around 1,100 sqm. The basement parking garage holds 32 cars.
The parties have agreed not to disclose the purchase price.
Centerscape was advised on legal matters by the law firm Bissel + Partner, based in Erlangen.
Established in 2007, the company has built an impressive real estate portfolio of 155 assets, including 14 in Greater Berlin. The portfolio represents a total investment volume of currently around 685 mn euros. Centerscape’s team of 60 focuses on the further growth of the company, acquiring up-market retail properties in Germany, Poland, and the Czech Republic. Properties in prime retail locations and at busy road junctions, retail buildings and ground floor retail units occupied by fashion retailers, pharmacies, organic supermarkets, banks, and restaurants, among others, are all part of the company’s investment profile.