Morgan Stanley is the new owner of “The Sony Center am Potsdamer Platz” (“Sony Center”) in Berlin. Morgan Stanley, along with Corpus Sireo and an affiliate of The John Buck Company, purchased the landmark property from Sony for an undisclosed sum.
A spokesperson for Morgan Stanley in Europe confirmed that the property was acquired through a Morgan Stanley real estate fund, but declined to comment on which one. Morgan Stanley closed its latest global property fund, Morgan Stanley Real Estate Fund VI, last year with $8 billion (€5.3 billion) in capital.
Located in Berlin’s central Potsdamer Platz, the Sony Center comprises eight buildings totaling 132,500 square meters. The complex features office, retail and residential space as well as dining and entertainment facilities. Current tenants of the property include Sony Europe, Sony Deutschland, Sony Pictures Releasing and Sony/ATV Music Publishing. All Sony Group companies will remain as tenants following the transaction. Transfer of ownership of Sony Berlin will be completed by the end of March 2008.
Last week, Morgan Stanley picked up US bank Citigroup’s Japan headquarters, paying a princely sum of ¥48 billion ($445 million; €302 million), according to the Nikkei business daily.