Pramerica Real Estate Investors (PREI) has acquired the Karstadt-Sport store in Hamburg from Austrian landlord Signa, the investment vehicle of Austrian businessman Rene Benko.
Pramerica Real Estate Investors (PREI) has acquired the Karstadt-Sport store in Hamburg from Austrian landlord Signa, the investment vehicle of Austrian businessman Rene Benko.
PREI carried out the acquisition on behalf of the Ärzteversorgung Berlin pension fund for doctors at a price of over €110 mln, according to local press reports.
Located at Mönckebergstrasse 16, the asset provides 10,500 m2 of retail space let to Karstadt-Sport on a 15-year lease, with an option to renew for five years.
