S IMMO AG invests in Berlin
S IMMO purchased office property in Berlin's Sonnenallee
With the purchase of an attractive office property, the stock exchange listed company S IMMO AG (Bloomberg: SPI:AV, Reuters: SIAG.VI) is affirming its goal to take advantage of favourable buying opportunities in Berlin in 2013. The purchased property consists of two tracts with a total area of roughly 12,000 m² and is located on Sonnenallee, 15 minutes away from the city centre by car along the route to Berlin’s future main airport. The architecturally impressive historical building is listed for preservation and was built in 1917 and then completely renovated in 1994. The new building on the property, which features an underground parking garage, was also built in 1994. The property offers very good transport connections, with the commuter railway and the city motorway located nearby.
Ernst Vejdovszky, Chairman of S IMMO AG’s Management Board, comments on the deal: “We purchased this building in Berlin in line with our goal of strategically taking advantage of real estate cycles. We are confident that together with our local team we will be able to fully realise the high potential of this property.”