Berlin’s Sony Centre has been acquired for close to €1.1bn by investors led by Oxford Properties, the real estate arm of a Canadian pension fund, in one of the largest deals in the European property market this year.
Oxford Properties, a division of the Ontario Municipal Employees Retirement System, and US private equity house Madison International Realty have acquired the city centre complex from South Korea’s national pension fund.
The six-acre site, which sits in Berlin’s central Potsdamer Platz, includes the Bahn Tower and comprises office, retail and leisure space, as well as 67 residential units. Large tenants include Facebook, Sanofi, Sony, Deutsche Bahn and shared office provider WeWork.
South Korea’s state-run National Pension Service bought the Sony complex for €585m in 2010 as one of its first investments in Europe. Sony Corporation completed development of the Helmut Jahn-designed complex in 2000.