KIC involved in Berlin property deal

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KIC involved in Berlin property deal

Brookfield Property Partners LP teamed up with Korea Investment Corporation (KIC) to make its acquisition of buildings on Berlin’s famous Potsdamer Platz from Savills Plc, according to two people with knowledge of the matter.

The people asked not to be identified because the information is private. Brookfield announced on Monday that it closed the purchase of the complex - which consists of 17 buildings, 10 streets and two squares in central Berlin - with an undisclosed Asian partner. Savills said on Oct. 13 it had agreed to sell the complex to Brookfield.

Brookfield agreed to pay about 1.4 billion euros ($1.5 billion), people with knowledge of the deal said last year. Melissa Coley, a spokeswoman for Brookfield in New York, declined to comment on Monday. Representatives at Savills and at KIC’s offices in London and New York didn’t respond to phone calls and emails seeking comment. Bloomberg

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