Allianz Buys Deutsche Bahn Berlin Office for $240 Million

Allianz Real Estate, the property investing unit of Europe’s biggest insurer, bought an office building in Berlin for 210 million euros ($240 million) that’s rented to railway company Deutsche Bahn AG.

Stettiner Carree, near the Nordbahnhof train station, was sold by private-equity firm Global Asset Capital, Allianz said in a statement Tuesday. The building has 61,500 square meters (662,000 square feet) of space.