BERLIN-The sale of Berlin’s emblematic Sony Center to the National Pension Service of Korea has been closed, according to legal practice Clifford Chance. It was adviser to the Chicago-based John Buck Co., part of an ownership consortium that included Morgan Stanley Real Estate Funds and the German property group Corpus Sireo.

No details were provided but NPS, the world’s fifth biggest pension fund, said in April it expected to close the sale in May and gave a price of $714 million. Located at Potsdamer Platz in central Berlin, the asset offers 1.2-million-square-feet of space. Initially built as the European headquarters of Japan’s Sony Corp, the property is also occupied by Deutsche Bahn, and Sanofi-Aventis.

Following the deal, foreign real estate should account for 1.3% of its $239 billion equivalent in assets, NPS said. The pension service is also said to be interested in Frankfurt’s Opera Tower, completed last year and more than 50% let to Swiss bank UBS. Developer Tishman Speyer is seeking a price of up to $742 million.

NPS first entered European real estate with a commitment to London investment manager Rockspring for City real estate. It was marked by the giant $1.1 billion purchase late last year of HSBC’s European HQ in Canary Wharf.

Allan Saundersonis a managing editor of Property Investor Europe and a contributor to

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