SEB Finds New Tenant for Berlin’s Potsdamer Platz Complex
SEB Asset Management AG (S3EA), which plans to sell Berlin’s Potsdamer Platz as it liquidates the ImmoInvest portfolio, found a new tenant for one of the complex’s buildings to replace Daimler AG. (DAI)
Hubert Burda Media Holding GmbH & Co., the German publisher of Focus and Bunte magazines, will use Potsdamer Strasse 7 as its Berlin offices, Frankfurt-based SEB Asset Management said in a statement today. Daimler is the largest tenant in SEB Asset Management’s most expensive property.
SEB ImmoInvest, a 6 billion-euro ($7.4 billion) property mutual fund, will be wound up within five years after investors asked for redemptions that exceeded its liquidity, according to a May statement. ImmoInvest is the largest of seven German mutual funds that have been forced to liquidate after failing to meet invest redemption requests.
SEB Asset Management is a unit of Skandinaviska Enskilda Banken AB (SEBA), a Stockholm-based company.
To contact the reporter on this story: Dalia Fahmy in Berlin at email@example.com
To contact the editor responsible for this story: Andrew Blackman at firstname.lastname@example.org