BERLIN-A fund run by the European arm of Hines has purchased a mixed-use retail and office property here in the borough of Steglitz for $57.7 million, sources say. The Hines Pan-European Core Fund acquired Schlossstrasse 20 from German developer Sedlmayr-Investa Immobilien GmbH.

The mostly-retail property includes 67,274 square feet leased to German sporting goods retailer SportScheck, on six floors, as the company’s flagship store. The corner building, which was built in 2010, also includes ancillary office space.

All parties in the sale said the transaction reflects the enormous draw right now of German retail property for investors. This is the first Berlin acquisition for the fund, which has a goal to acquire a geographically diverse portfolio of core commercial buildings across Europe, said Christoph Reschke, co-managing director for Hines Germany. The Schlossstrasse property is the fund’s fourth investment in the country.

“The Berlin market plays an important role for the expansion of Hines in Germany, be it for quality acquisitions, well-leased buildings or for new development projects,” he said in a statement. Hines has been in Germany since 1991, and has about 6.5 million square feet completed or in the pipeline in the country.