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Allianz Real Estate purchases Berlin office complex for €175M

Allianz Real Estate purchased an office complex in the Charlottenburg area of Berlin for about €175 million in a forward deal, Europe Real Estate reported.

Patron Capital Partners and Suprema sold the property, called EightFloors, after acquiring it in 2015 for redevelopment.

EightFloors spans 40,000 square meters and is 83% leased, the report noted.

The deal will be closed once the ongoing refurbishment on the complex completes in 2018, according to the publication.