Fokus bought the previous Hertie department store building located in Höxter. The purchased property comprises 4,600 sqm of rentable area including 3,200 sqm space. Focus Development plans to refurbish part of the property and create rental area of 3,700 sqm on three shopping levels. The project is expected to cost €8mn. The construction work is scheduled to start at the beginning of next year. Loan servicer Hatfield Philips, was advised by law firm Kaye Scholer, worked on the seller’s side for the transaction.
