Natixis Capital Partners has purchased two shopping centres in Flensburg and Saarbrücken from German retail giant Metro. The transaction was concluded on a sale-and-leaseback basis with Natixis' Captiva Capital Partners III ELP fund. The transaction price is said to be in the low three-digit million range. Helaba will provide financing of EUR 96 mln for the acquisition.
Natixis Capital Partners has purchased two shopping centres in Flensburg and Saarbrücken from German retail giant Metro. The transaction was concluded on a sale-and-leaseback basis with Natixis' Captiva Capital Partners III ELP fund. The transaction price is said to be in the low three-digit million range. Helaba will provide financing of EUR 96 mln for the acquisition.
The Fördepark shopping centre in Flensburg offers 48,000 m2 of retail space while Saarbasar in Saarbrücken provides around 35,000 m2 of leasable area. Metro has leased back both properties and will also retain the management of the centres.
As part of the transaction, Natixis' Captiva fund has also secured an option to acquire three further Metro shopping centres with a total leasable area of 140,000 m2. The properties are located in in Neubrandenburg, Halle and Greifswald. Freshfields advised Natixis on the acquisition.
The transaction allows Natixis to carry out a phased acquisition of these real estate assets and at the same time to ensure a stable cash-flow, the company said.
