PATRIZIA Immobilien AG (PATRIZIA) has sold a prime office building in Berlin-Mitte to MOMENI Investment Management GmbH (MOMENI). Financial details have not been disclosed.
Founded in 2004 and based in Hamburg, the owner-operated MOMENI is well-known as an active real estate investor with focus on development and management of high quality properties in inner-city locations of Germany’s big cities. The group provides specialized real estate funds in a variety of structures mainly for institutional investors as well as family offices and foundations.
Headquartered in Augsburg, PATRIZIA has been active in the real estate market as an investor and service provider for more than 30 years, having been involved in the purchase, management, value increase and sale of residential and commercial real estate
Friedrichstrasse 108 is a modern office building with 11,400 m² situated in prime location in Berlin-Mitte, between the traditional revue theatre FriedrichstadtPalast and the legendary Tacheles area.This area is to be transformed from the ruins of an old department store, built in 1909, into an urban quarter with cultural, residential and business amenities. The prominent seven-storey building is completely let to the Federal Ministry of Health and Berliner Volksbank.
Oaklins' team in Germany advised PATRIZIA and MOMENI on the entire transaction process. This included structuring the asset deal, providing a complete analysis of the real estate market and its characteristics, approaching national and international potential investors, and negotiating the sale contracts.
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