Patrizia purchases Berlin's Forum for €100m

PATRIZIA_Berlin_Landsberger Allee low res

Peakside Capital has sold its Berlin-based mixed-use asset The Forum Landsberger Allee to Patrizia Immobilien for €100m (£88m).

The Forum Landsberger Allee was built in 1996 and underwent further expansion in 2015 under Peakside’s ownership, increasing the WALT from 5.5 to 10 years. Offering more than 377,000 sq ft of lettable space, the building is almost fully let to tenants including major German retail brands such as Rewe and the drugstore chain dm. It also contains the 870 bed Generator Hostel and a 155 room Park Plaza hotel.

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