Dutch privately-held property company D&R Investments has acquired a portfolio of seven retail assets in Germany from Düsseldorf-based developer Centrum. The transaction price is said to amount to around EUR 150 mln.
Dutch privately-held property company D&R Investments has acquired a portfolio of seven retail assets in Germany from Düsseldorf-based developer Centrum. The transaction price is said to amount to around EUR 150 mln.
The portfolio comprises assets in Hanover, Frankfurt, Saarbrücken and Würzburg, as well as three properties in Oldenburg. It is entirely fully let and provides a total of 33,000 m2 of retail area. The property in Hannover, scheduled to open in March 2012, is leased to fashion retailer Esprit, Desigual and Aktiv-Schuh. It offers 6,400 m2 of space.
Woolworth is the anchor of the Frankfurt asset, providing 4,500 m2 of space, while the 6,200-m2 store in Saarbrücken is occupied by a C&A store. In Oldenburg, tenants include The Sting, Bestseller and s.Oliver.
Law firm Bethge und Partner advised the buyer.
