Oxford—Madison JV Pays $1.3B for Berlin Sony Center
ByOxford Properties, the global real estate arm of the Ontario Municipal Employees Retirement System, is entering the Berlin market with the acquisition of Sony Center, a 1.2 million-square-foot mixed-use complex, for approximately $1.3 billion (€1.1 billion) from the National Pension Service of Korea. Madison International Realty is Oxford’s partner in the deal that includes the 26-story BahnTower.
The Sony Center, completed in 2000, spans nearly six acres and comprises eight buildings that have about 915,000 square feet of prime office space, 215,278 square feet of retail and leisure space and 67 residential units. Major office occupiers include Deutsche Bahn, Facebook, Sanofi, Sony, the state of Berlin and WeWork. Retail tenants include LegoLand, IMAX and Cinestar…
