Generali RE completes the acquisition of office and residential building in Berlin

Generali Real Estate has completed the acquisition of an historic office and residential building in Berlin, Französische Strasse 53-55, on behalf of a real estate fund managed by Generali Real Estate S.p.A Società di gestione del risparmio. The seller of the asset is Real I.S. on behalf of the special real estate AIF "Real I.S. BGV V".

The asset is a fully let historic building in the prestigious Französische Straße, in the middle of Berlin's central business district around Friedrichstraße, one of most sough-after areas in the German capital.
Its 8,000 sqm GLA include approximately 6,300 sqm of office space and 1,450 sqm of residences.
In the high-quality building, great attention is paid to health and wellbeing of the occupants, as well as to accessibility and smart mobility, thanks to ideal connections to public transport.

The fund acquiring the asset is a real estate fund dedicated to professional investors, managed by Generali Real Estate S.p.A SGR. The fund’s portfolio comprises mainly office and high street retail assets, located in France, Germany and the United Kingdom.
In Germany, Generali Real Estate currently manages a portfolio of 230 properties, worth about € 4.5 bn.

General Real Estate was legally advised by Mayer Brown. Real I.S. was advised by Norton Rose Fulbright LLP, CBRE, Lottum & Schultz. Savills acted as intermediary on the deal.