The Frankfurt Real Estate Industry team advised PGIM Real Estate on the acquisition of the Arrow portfolio from Patrizia Immobilien. PGIM will acquire the portfolio as part of a share deal together with Signature Capital.
The Arrow portfolio in Berlin consists of four buildings constructed between 1880 and 1911. In recent years, the buildings have partly been used as a senior residence and are now to be converted into office spaces. The buildings comprise a total rental area of 32,000 square meters with the option of expanding to 8,500 square meters.
PGIM Real Estate, the real estate investment management business of PGIM, has been redefining the real estate investing landscape since 1970. Combining insights into macroeconomic trends and global real estate markets with excellence of execution and risk management, PGIM Real Estate’s tenured team offers to its global clients a broad range of real estate equity, debt, and securities investment strategies that span the risk return spectrum and geographies. Signature Capital is a real estate investment company established in 2004.