Funds advised by Bruton Capital, the German real estate investment and asset management firm, has acquired a high quality shopping centre in the Hellersdorf district of Berlin.
The Hellersdorfer Corso has been opportunistically purchased out of administration.
Bruton’s opportunistic retail real estate fund, GRP Beta, has purchased the Hellersdorfer Corso out of administration.
The Hellersdorfer Corso at Neue Grottkauer Straße comprises 18,000 sqm of retail and office space with 150 surface and underground car parking spaces. The property is virtually fully occupied by more than 90 tenants yet provides strong potential for repositioning and asset management initiatives.
Ross MacDiarmid, a partner at Bruton Capital, said: “We are excited about the asset management initiatives and opportunities at the Hellersdorfer Corso. We intend to invest in the centre and we believe the high quality space and attractive location will prove popular with occupiers”.
NOTES FOR EDITORS:
Bruton Capital is a partnership based in Frankfurt and London providing the full spectrum of real estate investment and asset management capabilities to investors in Germany. Bruton Capital advises a number of private investment vehicles across different strategies with a principal focus on retail investment.