Daimler AG has sold a Potsdamer Platz portfolio to SEB Asset Management AG
Daimler AG has sold the real estate portfolio Potsdamer Platz, a total of 19 companies which held the various properties, to SEB Asset Management AG for US$2.1 billion.
The real estate portfolio Potsdamer Platz was developed after 1990 under the then Daimler AG CEO Edzard Reuter, in the framework of corporate responsibility for Berlin.
SEB is an international open-end real estate fund. The company acquires shares in real estate companies worldwide in acknowledged economic hot spots.
Daimler AG is a German manufacturer of automobiles, motor vehicles, and engines, which dates back more than a century. The company decided, in the course of focusing on its core business, to sell its properties in Potsdamer Platz, Berlin.
Oaklins' team in Germany advised the seller, conducting a lean international bidding procedure and completing the international auction process within the allotted time frame. In a dramatic finish, SEB Asset Management AG, Frankfurt, emerged as the winner with a bid of approximately US$2 billion.
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