redos sells Kaufpark Nickern in Dresden, Germany

Kaufpark Nickern in Dresden has a new owner – the investor Kurt Krieger. The property previously belonged to a joint venture between redos and the US investment company Madison International Realty, and was part of the so-called Christie portfolio. At the time of acquisition by the joint venture at the end of 2016, this portfolio comprised four hybrid shopping centers with a total GLA of around 218,000 sq m on the outskirts of Berlin and in Dresden. 

Oliver Herrmann, Managing Director at redos explains, “Following the successful repositioning of the shopping centers in Eiche, Dallgow, and Wust, the sale of Kaufpark Nickern is a further building block in the consistent value creation for the Christie portfolio. We will also take advantage of further such opportunities, as we see considerable potential particularly in terms of densification and land utilization.” To date, Kaufpark Nickern comprises a total GLA of more than 56,000 sq m, with over 75 stores for its approximately 4.5 million visitors. The property also includes around 3,200 parking spaces.