The property with around 40,200 sq m of rental space was acquired for the special alternative investment fund “Redos Einzelhandel Deutschland III”. The seller of the retail property is the real estate investor and asset manager Patrizia AG.
The retail property has 33 tenants, including EDEKA, OBI, Adler, Müller, Hammer and Expert. FMZ customers have access to 1,815 free parking spaces for their purchases.
Frank Eckervogt, Managing Director Transactions at redos, has said about the property: “With the Südring Center we have secured another highly attractive property for our special alternative investment fund, which fits perfectly into our acquisition profile. This adds another established location with a long term cash flow security to our portfolio.”
Legal advice to redos was provided by McDermott Will & Emery. The internationally active consulting firm Ernst & Young was commissioned for the technical due diligence as part of the transaction. Engineering firm terraplan acted as environmental engineering consultants.
Südring Center is a dominant retail location in the Berlin area with a very high appeal. The retail park is easily accessible, being positioned on the B96 federal highway, one of the most important connecting axes to Berlin, and has a very wide catchment area due to its location. More than 100,000 residents can reach the property within a 15-minute drive.