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European property fund, partner close €210M German portfolio sale

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European property fund, partner close €210M German portfolio sale

European Property Special Opportunities 3 closed an over €210 million sale of its German mixed-use portfolio with the divestment of its final piece — a Berlin office asset — to SIGNA Development Selection.

The opportunity fund, advised by Tristan Capital Partners, held the portfolio alongside long-term partner caleus capital investors gmbh. Their most recent divestment featured the landmark Schicklerhaus office building from 1910.

Cushman & Wakefield, Clifford Chance, PWC and GFP served as advisers to Tristan on the Schicklerhaus deal.

Of the 14 office and retail assets included in the portfolio, four were disposed in 2015, seven in 2016 and three in 2017. The properties are predominantly in Berlin, Leipzig or Frankfurt and were bought from three funds managed by DZ Bank Group unit DG ANLAGE in December 2014.