Daimler sold a complex of buildings at Potsdamer Platz in Berlin

Berlin - The German automotive company Daimler AG has sold a large group of buildings at Potsdamer Platz in Berlin. The buyer of the Quartier complex was the Swedish banking group Skandinaviska Enskilda Banken AB (SEB). Daimler announced this today, but did not disclose the price.
    The group sold the property in order to have more money available and to focus on car production. The decision also reflects the growing demand for real estate in the German capital, especially around Potsdamer Platz. The area, which was a no man's land during the Cold War, has become a prestigious address after the fall of the Berlin Wall and the reunification of Germany.
    Quartier consists of 19 buildings with a total usable area of 500,000 square meters, both above and below ground. Besides office spaces, the complex includes apartments, shops, hotels, entertainment, and restaurants.
    Daimler's head of corporate development and real estate Rüdiger Grube highlighted that SEB Asset Management's property management division is a serious investor with a long-term strategy. Grube noted that the location is among the most attractive places in Europe.
    The transfer of property will still require approval from regulators. It is expected that the transaction itself will be completed by March of next year. Shares of the automotive group fell by 1.2 percent to 65.87 euros in Frankfurt today, reported the AP agency.