Warburg-HIH Invest Real Estate (Warburg-HIH Invest) has acquired the Carré Göttingen shopping centre for a special fund it manages from a special purpose vehicle of Resolution Property.
Financial details were kept confidential.
Resolution had acquired the 14,200 m2 fully-let centre in October 2012 and has since carried out an extensive refurbishment and reconfiguration programme. Located in the Lower Saxony region of Germany, the four-storey mall was first built in 1974 as a department store and converted to a shopping centre in 1987.
'With Carré Göttingen we have secured a well-established shopping centre in an attractive location that stands to gain from planned developments such as the expansion of the pedestrian zone and the strengthening of the micro location thanks to additional anchor tenants,' commented Hans-Joachim Lehmann, managing director at Warburg-HIH Invest and responsible for Transaction Management Germany.
Ashurst provided legal assistance to the buyer while Drees and Sommer advised on the technical side.
Gleiss Lutz acted as legal consultant for the vendor and CBRE Preuss Valteq was the technical advisor to the vendor. CBRE was the real estate agent involved in the transaction.
