Credit: Patrizia

PATRIZIA sells German DIY portfolio for EUR 96 million

PATRIZIA AG, the global partner for pan-European real estate investment, announces the sale of a portfolio of seven retail properties in Germany to Captiva, a German real estate investment company, for EUR 96 million.

Comprising 71,000 sqm of total rental space, the portfolio is fully let to OBI, the European DIY retailer on long leases. The sale follows the completion of several recent lease renewal agreements across the portfolio which has extended the WAULT to 12.9 years. The assets are located in established locations in Vechta, Neuss, Schwelm, Siegen-Weidenau, Haiger, Pirna and Stadtbergen.

Philipp Schaper, Head of Transactions Europe at PATRIZIA, commented: “We were pleased to work with OBI to secure their long-term future in each of these locations.  This helped them create a sustainable and stable environment for their business and, in turn, this sale has created value for our client.”

PATRIZIA manages more than EUR 7 billion in the retail sector throughout Europe with the majority invested in Germany.

PATRIZIA was advised by Ernst & Young, Berlin, as legal advisor and JLL as broker.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Deutsche Investment acquires Rödertalpark retail park

Deutsche Investment just acquired the Rödertalpark” retail warehouse park of around 15,560 sqm in Grossröhrsdorf (Saxony, Germany) for its latest separate asset pool, “Deutsche Investment – Food Retail I.”

Zalando starts selling second-hand fashion

Young female shoppers like second-hand goods because they are eco-friendly.

MediaMarktSaturn CFO Florian Wieser becomes new CFO of the CECONOMY Group

Florian Wieser, CFO of MediaMarktSaturn Retail Group, to serve as Ceconomy Group CFO as of 1 May 2021.

Neinver launches a Europe-wide initiative to support art and local communities

Neinver, as part of its commitment with the communities, has launched an initiative at all its outlet centres in Europe to support art by promoting local talent, and to excite consumers with an explosion of optimism, colour and energy.

PREMIERE: First ACROSS Company Live Session in cooperation with SONAE SIERRA

RETHINKING REAL ESTATE, May 11, 3pm, ZOOM Session. The top executive talk in our NEW ONLINE FORMAT! Register here and now!

Hammerson announced the appointment of Himanshu Raja as Chief Financial Officer (CFO) and Executive Director

Hammerson is pleased to announce the appointment of Himanshu Raja as Chief Financial Officer (CFO) and Executive Director. He will succeed James Lenton who gave notice of his resignation to the Company in January 2021.