German listed property firm LBBW Immobilien has sold the Haerder-Center in Lübeck to Hamborner REIT for €50 mln.

German listed property firm LBBW Immobilien has sold the Haerder-Center in Lübeck to Hamborner REIT for €50 mln.

Built in 2008 by Tenckhoff Properties and LBBW Immobilien , the shopping centre provides 13,200 m2 of rental space over 40 shops. Anchor tenants are H&M, Rewe and myToys.

The deal is believed to reflect a gross initial yield of 6.5%.

CMS advised the vendor.