Peakside Capital, on behalf of Peakside Real Estate Fund I (PREF I), has sold a mixed-use asset in Berlin for €12 million. The 4,000-square-metre asset, which was bought by a private investor, is located on Kurfürstendamm, one of Berlin’s prime retail and office areas.

“The current focus by investors in the German market on narrowly defined core product creates an outstanding market opportunity for us to exit stabilised assets at or above target prices,” says Stefan Aumann, head of asset management and a partner with Peakside Capital.

PREF I is an opportunistic fund with commitments of €261 million. The pan-European fund recently acquired an office redevelopment in Hammersmith, London.