The developer plans to reposition the c. 25,000 m2 building at the former border between East and West as a core mixed-use commercial property to cater for the growing needs of the new media community in Berlin.
Alexander Bürk, Managing Director of Cresco Capital Group said: “We are extremely excited about this acquisition and specifically about the role the building could play within this exciting micro location in the district of Kreuzberg as well as for Berlin.”
Andrew Williams, Co-Chairman, said: “This is our third acquisition with Cresco in Berlin and it underlines our commitment to the team, focusing on prestigious projects in prime locations”.