Acting on instruction 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 Tempelhof area dating from 1895 to a foreign private investor.
The commercial property in Tempelhof sold at an initial yield of around eight per cent per annum.
Winters & Hirsch had been instructed by the seller to market the property 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.