Ashurst advised Warburg-HIH Invest Real Estate GmbH (Warburg-HIH Invest) on the sale of office and retail property "Fasanenpalais" on Kurfürstendamm 26a in Berlin to Aachener Grundvermögen.

The 7,400 square metre lettable space property, whose list of tenants include Tesla, Timberland, Starbucks and Camper, was modernised in 2007 and 2012.

The parties have agreed not to disclose the purchase price.

The Ashurst team was led by real estate partner Dr Liane Muschter, assisted by associate Sven Nickel, paralegals Anja Stötzel and Abdulruhman Al Edel (all real estate) as well as by the tax team (all Frankfurt).

Ashurst's longstanding client Warburg-HIH Invest is one of Germany's leading managers of special AIFs for real estate with c. €6 billion of real estate assets of under management.