Sienna Real Estate advises in the acquisition of DIY-store in Berlin
Sienna Real Estate’s German team have advised the Saud Al Rashed family office, from Kuwait, on the purchase of a DIY-retail asset in Berlin. The long-term, single tenant for the 14,701 sqm space is HORNBACH, a DIY-store chain that operates across several European countries. The asset, located at Malchower Chaussee 10, is ideally positioned adjacent to one of Berlin’s arterial routes and caters to a large catchment area.
Oliver Hecklau, Managing Partner of Sienna Real Estate Germany, said “This transaction is a valuable addition in diversifying our portfolio across asset classes, and is a great success in challenging times.”