Brookfield Property Partners Buys German Landmark Potsdamer Platz
Brookfield Property Partners has completed the purchase of Berlin’s iconic Potsdamer Platz, a 2.9M SF mixed-use complex with 17 buildings (office, retail, residential, leisure and hotel properties, home to more than 480 companies), as well as 10 streets and two squares in the centre of the German capital. Potsdamer Platz is the meeting point of the city’s five busiest streets, in a star-shaped intersection. Redeveloped by Daimler in the 1990s, the area sees more than 100,000 visitors daily. A subsidiary of Brookfield made the acquisition in a JV with an Asian sovereign wealth fund. Purchase price was not disclosed.