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| Union Investment acquires Rosmarin Karree in central Berlin Rosmarin Karree in the Mitte district of Berlin has a new owner. Union Investment acquired the commercial and office building – prominently located on Friedrichstraße in central Berlin, between Unter den Linden and Gendarmenmarkt – for an unspecified price for its open-ended real estate fund UniImmo: Deutschland. The premium property was developed by the B&L Group and Hines and completed in 1998. It is fully let, with the main tenant being the German Savings Banks Association on a long-term lease. Rosmarin Karee comprises total rental space of 21,525 sq m, made up of 11,765 sq m of offices, 3,196 sq m devoted to 51 Clipper Boardinghouse apartments, and 2,661 sq m of retail space, which is let to chains such as H&M, Massimo Dutti, Vero Moda and Jack & Jones. The property benefits from a high-profile location at the intersection of Friedrichstraße and Unter den Linden – an area which quickly established itself as a focus for retail and business usage in eastern Berlin following reunification. The Französische Straße metro station is located right in front of the building. After construction of the new metro line number 5, the location will be even better served by public transport. The vendor with its private group of shareholders was represented during the transaction by the B&L Group. The B&L Group has specialised in the development, realisation and management of office, hotel and retail real estate in Germany for more than 40 years. B&L will continue to manage the property. write your comments about the article :: © 2012 Construction News :: home page |