The Lemmens Group, the Netherlands-based investor in real estate, has taken a 24% stake in Schrannenhalle, the historic shopping mall in the centre of Munich. Lemmens acquired the stake from a private investor.
The Lemmens Group, the Netherlands-based investor in real estate, has taken a 24% stake in Schrannenhalle, the historic shopping mall in the centre of Munich. Lemmens acquired the stake from a private investor.
Schrannenhalle comprises about 13,500 m2 retail and office space and a garage with 180 parking places. 'Over time we will strive for an 100% stake. The investment value of Schrannenhalle is between EUR 50-55 mln,' said Jos Lemmens, founder of the Lemmens Group.
The group has also made a number of other acquisitions in Germany. Five residential and retail properties in an A1-location in Dusseldorf were purchased by the Dutch group for a total of EUR 5.4 mln. The properties have a rental stream of about EUR 450,000 per year. Lemmens has also acquired shops in Gießen, Lüdenscheid, Eisenach and Halle, with a total rent of EUR 560,000, for about EUR 7.5 mln. The tenants include Bonita, Yves Rocher and Pimkie.
