Union Investment acquires Neucölln Carrée in Berlin from Stenprop
Neucölln Carrée in Berlin changes ownership. Union Investment acquired the centrally located local supply center in Berlin’s Neukölln district (on the corner of Sonnenalle and Grenzallee) with a leasable of 13,364 sq m and 14 shop units for its institutional real estate fund.
Anchor tenants of the virtually fully leased center are Edeka, Aldi Nord, and Rossmann. The center clearly focuses on FMCG (Fast Moving Consumer Goods), as approximately three thirds of its rental income is generated by daily goods. The seller is the LSE-listed REIT Stenprop. The owner hired asset and investment manager Montano Asset Management to handle the sales process. CBRE and the law company JebensMensching consulted Stenrop throughout the transaction. Möhrle Happ Luther and P+P Pöllath + Partners consulted Union Investment. The transition period of the sales contract is planned in a timely manner, January 2021 at the latest.
McArthurGlen celebrates the opening of McArthurGlen Designer Outlet West Midlands, its major new £160 million fashion destination that is set to be the only stand-alone shopping centre to open in the UK this year.
ADG group, a Russian development company, shared its results for the first quarter of 2021. As the government in Moscow has officially lifted restrictions and started free vaccinations, brick & mortar retail in Russia is on the road to recovery after the impact of the pandemic and ADG’s chain of neighborhood centers is poised to demonstrate strong dynamics.
Realm has grown its leasing team with the appointment of Caroline Helyer as leasing manager. Caroline will be working across several of Realm’s schemes – including Dalton Park, Milsom Place and Bedford Riverside – where she will be leading initiatives to secure new retail lettings and lease renewals, as well as enhance the customer shopping experience and F&B offering across the portfolio.