Oaktree Seizes Prized Berlin Asset from Caner’s Aggregate

Oaktree Capital Management has taken control of a major Berlin development it financed for Aggregate Holdings SA, the diminished real estate empire run by Cevdet Caner.

The private equity firm has enforced pledges with immediate effect to take all shares in the company that owns Aggregate’s QH Track project, part of Quartier Heidestrasse, according to a statement Wednesday.

“Following the very challenging situation in the global real estate market, QH Track has experienced cost overruns and delays to completion,” the Aggregate statement said. “Aggregate had been in discussions with Oaktree and the senior lenders on resolving these issues in ...