Corestate Picks Up Berlin Office Property For $94M

Law360 (October 9, 2019, 5:49 PM EDT) -- Corestate Capital has picked up an office property in Berlin for €86 million ($94.4 million), according to an announcement from the Germany-based real estate firm on Wednesday.

Corestate Capital Holding SA is teaming up with The Carlyle Group LP's real estate arm Metropolitan Real Estate as well as a Bluerock Group fund to own the property, which is known as the Tempelhof Twins.

The firm in its announcement Wednesday did not provide the financial terms of its joint venture with Carlyle and Bluerock. The property has 22,300 square meters, or 240,035 square feet, of space as well as about 270 parking...

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