Peakside Capital sold The Forum Landsberger Allee mixed-use property in Berlin to Patrizia Immobilien AG for €100 million.
The property spans more than 35,000 square meters, with roughly 13,900 square meters of office space, 6,300 square meters of convenience retail space and 14,300 square meters of hostel and hotel space. It houses the 870-bed Generator Hostel and a 155-room Park Plaza hotel.
The asset, acquired by Peakside in 2015, was sold on behalf of the PREF II fund, which is in the realization stage.
Patrizia bought the Prenzlauer Berg district property on behalf of a private investors' fund managed by Patrizia GrundInvest. The property is almost fully let, according to a release.
