German investor Publity has announced the sale of the Neumarktcenter shopping mall in Bensheim, in Germany's Southern Hesse region, on behalf of its Performance Fonds V.
German investor Publity has announced the sale of the Neumarktcenter shopping mall in Bensheim, in Germany's Southern Hesse region, on behalf of its Performance Fonds V.
Financial details were not disclosed.
Built in 1980 on a 5,000 m2 land plot, the mall is virtually fully leased and provides a total of 10,700 m2 over 20 shops, some office space as well as nine apartments and 131 parking spaces.
'The deal is yet more proof that our investment strategy also works in B-locations,' said Publity CEO Thomas Olek.
The deal follows Publity's acquisition earlier this month of two assets in major German cities with a total lettable area of 74,000 m2.
Bredeney, an eight-storey building in Essen with entrances on Hazper Straße and Theodor-Althoff-Straße, has 46,000 m2 of office space. Tenants include ThyssenKrupp and regional public highways agency Straßen NRW.
Publity also bought the Deelbögenkamp 4 office complex in Hamburg's Alsterdorf district, which has 28,000 m2 of space. The main tenant is Verwaltungsberufsgenossenschaft (VBG), the institution for statutory accident Insurance and prevention in the administrative sector.
The Leipzig-based office investor and asset manager listed on the Frankfurt stock exchange in April 2015. It reported assets under management of €880 mln in its H1 financial filing for 2015 and raised its full-year forecast from €1.2 bn to €1.4 bn.