The National Asset Management Agency is to sell loans secured against land overlooking Checkpoint Charlie in Berlin.
The debts, secured against two parcels of land either side of the crossing, are being bought by German developer Trockland Management for around €85m (£63.4m).
The debts were previously controlled by KE Kavel, the firm owned by Irish brothers Michael and Cathal Cannon. The sites have potential for more than 100,000 sq ft of development.
Checkpoint Charlie (pictured) was the epicentre of tension between the Soviet Union and the Western allies up until the fall of the Berlin Wall in 1989.
david.hatcher@estatesgazette.com
