BERLIN—Tishman Speyer has re-acquired Quartier 205, also known as the Q, a mixed-use property it developed here in the early 1990s. Neither the buyer nor the sellers, a partnership of Ponte Gadea and Grupo Santander, disclosed the price; industry data show that the 565,000-square-foot office/residential/retail asset at Friedrichstrasse 66-70 traded for approximately $372.3 million.

“With its diverse tenant base, its wide array of uses and its close proximity to public transportation, Quartier 205 is a perfect example of a truly connected urban complex, which will benefit from Tishman Speyer's deep understanding of the property, location and market,” says Florian Reiff, Tishman Speyer's country head for Germany. Tishman Speyer developed and built the property from a design by architect Oswald Mathias Ungers, following the fall of the Berlin Wall. Its major office and retail tenants include Coca Cola, Citigroup, AT Kearney, Gucci and H&M.

The company's co-CEOs, Jerry Speyer and Rob Speyer, note that the acquisition “also constitutes our re-engagement with the Berlin real estate market, where we began over 25 years ago, and we look forward to widening our presence in this vital city in the years to come.” Tishman Speyer partnered with Sony Corp. in the 1990s to develop the electronics giant's European headquarters at Berlin's Potsdamer Platz, then sold the 1.3-million-square-foot property in December 2004, exiting the Berlin market altogether in July 2011.

Tishman Speyer re-acquired the Q on behalf of its European Core Fund. The deal was completed in just four weeks, with Berlin Hyp providing the financing. The sellers were advised by CMS Hasche Sigle as well as JLL and CBRE. Tishman Speyer was advised by White & Case and Savills.