German real estate company Branicks Group has offloaded four retail park properties to a major US real estate investor.
One property is from Branicks' own holdings, while the other three belong to BBI Bürgerliches Brauhaus Immobilien, a subsidiary of VIB Vermögen. The sale price has not been disclosed.
The four retail parks generated an annual rental income of €4.3 mln. Their sale has yielded Branicks Group €27 mln in cash.
This move aligns with the company's strategy to streamline operations, focus on core assets and improve its financial position. It is also consistent with the restructuring plan approved earlier this year.
he three retail parks owned by BBI Bürgerliches Brauhaus Immobilien Aktiengesellschaft are situated in Bavarian towns: Pfaffenhofen, Simbach, and Landshut. The fourth property, from Branicks Group's own portfolio, is located in Stockstadt.
The merger of BBI Bürgerliches Brauhaus Immobilien and VIB Vermögen has been approved by the General Meeting, thus streamlining the structure of the Branicks Group.
Branicks Group specializes in office and logistics properties, as well as emerging renewable energy assets. As of 31 March 2024, the value of the collectively managed properties amounted to €13.1 bn.
