PORTFOLIO: FUND I
23,000 sm residential and retail complex in the heart of former East Berlin
This large building is situated at a major intersection on a long stretch of boulevard near Alexanderplatz that is marked by grandiose buildings constructed in post-war East Berlin.
The acquisition was completed in an off-market transaction from the previous lender whose loan was in default. Rather than go through the time and expense of foreclosing on the property, the lender accepted a modest discount to ensure a quick, clean exit. This is a good risk-adjusted opportunity that fits in well with ASG´s strategy of repositioning undervalued real estate.