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Credit: iMallinvest

iMallinvest arranges the sale of Eiderpark in Rendsburg

iMallinvest Europe GmbH has successfully marketed the Eiderpark, a dominant retail park located in Rendsburg, Germany, on behalf of real estate funds managed by Blackstone.

The purchaser of the property is Bade Immobilien, a family-owned investment manager based in Lower Saxony.

Situated in the heart of the German Federal State of Schleswig-Holstein the property comprises 20,154 sqm GLA, which is split over 25 shop units. Within the wider Rendsburg region, the Eiderpark is a dominant retail park with a strong tenant line-up, including market-leading retailers such as toom (DIY), Aldi, Rossmann and Woolworth. The retail park has a loyal customer base and benefits from a healthy commercial infrastructure.

Klaus Mennickheim, Managing Partner of iMallinvest, emphasizes the long-term value potential of the property: “We are glad about the successful marketing of the property, and we congratulate Bade Immobilien on the purchase of Eiderpark in a competitive process. The asset provides valuable asset management potential and offers interesting opportunities for the implementation of future leasing initiatives.”

The deal closed in December 2019.