Catalyst Capital has increased the size of its portfolio in Germany with the purchase of the Der Clou shopping centre in Berlin from CGI for €70m (£47m).
The deal, announced this morning, was completed on behalf of Catalyst’s WCC Europe Fund.
The 236,806 sq ft shopping centre near the city’s Berlin-Tegel airport, has a tenant role including electrical goods store Saturn, food store REWE, Adler, Drospa and Tchibo. The passing rent is E4.365m (£2.9m) a year.
King Sturge advised Catalyst Capital and Cushman & Wakefield acted for CGI.