Clifford Confirms $714M Buy of Sony Center

BERLIN-The sale of Berlin’s emblematic Sony Center to the National Pension Service of Korea has been closed, according to legal practice Clifford Chance. It was adviser to the Chicago-based John Buck Co., part of an ownership consortium that included Morgan Stanley Real Estate Funds and the German property group Corpus Sireo.

No details were provided but NPS, the world’s fifth biggest pension fund, said in April it expected to close the sale in May and gave a price of $714 million. Located at Potsdamer Platz in central Berlin, the asset offers 1.2-million-square-feet of space. Initially built as the European headquarters of Japan’s Sony Corp, the property is also occupied by Deutsche Bahn, and Sanofi-Aventis.