South Korean pension fund bids for Berlin’s Sony Centre

South Korean pension fund bids for Berlin's Sony Centre
The Sony Centre. Photo: DPA
The South Korean pension fund National Pension Service (NPS) is in line to buy the central Berlin landmark Sony Centre, according to a statement on Sunday.

The NPS issued a brief statement saying negotiations were about to be completed, with a purchase price of €573 million to be paid to current owners, the Morgan Stanley Real Estate Fund VI.

The pension fund is now the favoured bidder for the centre which is one of the most famous of the capital’s buildings.

The purchase could be completed in May, the NPS statement said, adding that 97 percent of the real estate complex is currently rented out, with contracts set to run for another decade.

Member comments

Become a Member to leave a comment.Or login here.