Brookfield Property Partners Subsidiary Acquires Potsdamer Platz in Berlin; Purchase Price Not Disclosed

Brookfield Property Partners L.P.

announced that one of its subsidiaries has completed the acquisition of Potsdamer Platz in Berlin with its joint venture partner, an Asian sovereign wealth fund. The parties are not disclosing the purchase price.The trophy, mixed-used estate comprises 17 buildings, 10 streets, and two squares covering a gross area of more than 2,900,000 square feet in the center of Berlin. The buildings are a mix of office (1,376,000 square feet), retail (493,000 square feet), residential (271,000 square feet), leisure (446,000 square feet), and a hotel (138,000 square feet) and are home to more than 480 national and international companies.Ric Clark, Chairman of Brookfield Property Partners, commented: "Potsdamer Platz is one of the world's iconic properties, and we are pleased to be adding it to Brookfield's growing portfolio of world-class assets."A prime asset at the geographical center of Berlin, Potsdamer Platz is the meeting point of the city's five most bustling streets in a star-shaped intersection. Redeveloped by Daimler in the 1990s and designed by an international team of world-renowned architects including Renzo Piano, Richard Rogers and Hans Kollhoff, Potsdamer Platz sits among Berlin's historic, creative,