The multi-family office and Germany-based property and investment house have completed a major acquisition in Berlin.

London-based multi-family office L J Group, and Cresco Capital, a German property and investment house, have completed the acquisition of a major Berlin property in the form of the former Victoria Insurance headquarters.

The developer of the building intends to reposition the 25,000 square metre site at the former border of East and West Berlin as a core mixed-use commercial property, serving the new media community in the German city.

The acquisition was handled via the Cresco Urban Yurt platform operated by Cresco and LJ Group.

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