RFR Holding recently acquired the East Side Mall development project, located in the fast-growing Mediaspree quarter in Berlin Friedrichshain, from FREO Group.
Upon its scheduled completion by the end of 2018, the retail property will comprise of c. 38,000 square metres of leasable space as well as about 760 parking spaces.
The East Side Mall is part of the comprehensive Anschutz development area located just across the street from the East Side Gallery. By 2020, the approx. 20-acre plot will be redeveloped into a pulsating and lively event quarter.
Located in close proximity to highly frequented areas such as the Warschauer Strasse public transportation hub, which handles about 85,000 passengers on a daily basis, the Mercedes-Benz Arena with 1.3 million annual visitors and the East Side Gallery with about 8,000 visitors per day, the East Side Mall will mainly cater to the local demand from future visitors, office tenants and residents.
RFR acquired the East Side Mall as a part of a forward deal. The purchase price will remain confidential. FREO was advised by BNP Paribas and Freshfields Bruckhaus Deringer, while RFR was advised by Gleiss Lutz.