Credit Suisse Real Estate Fund International (CS REF International) has announced the purchase of the Kant Center scheme in Berlin from an unnamed foreign fund. Although the transaction details were not disclosed, the property is said to be worth around EUR 70 mln.

Located in the Charlottenburg district of Berlin, the Kant Center complex provides roughly 21,000 m2 of retail and office accommodation spread over seven floors as well as 288 parking spaces. It was initially built in1994 and completely refurbished in 2004. Major tenants include Media Markt, Peek & Cloppenburg and TK Maxx, which have an average remaining lease term of five years.

Credit Suisse Real Estate Fund International is the real estate fund management arm of Credit Suisse with a portfolio valued at CHF 1.58 bn (EUR 1.36 bn) at year-end 2010.