PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Koreans said interested in Morgan Stanley Berlin asset
Due to the retreat by Morgan Stanley from German real estate, the Korean state pension fund is bidding to buy from it the Sony Center in Berlin, according to the Handelsblatt newspaper. The Korean National Pension Service has allocated more than $1bn to European property indirectly via the UK-based Rockpoint investment manager, but the Berlin investment is likely to be direct and would constitute its first investment in continental Europe. MS Real Estate Funds bought Sony Center for e600m in 2007, and it is said to worth some e100m less. (See upcoming PIE Editions for more information)