Redevco has acquired a substantial portfolio comprising two retail parks and a big box retail property in Hanover, Gründau-Lieblos near Hanau and Berlin for approximately €160m on behalf of one of its investor clients. The vendor of the assets with a GLA of approx. 63,500 sqm is a property company of the Krieger Bau Group. The purchase is still subject to antitrust clearance. The flagship asset of the deal is the A2 Centre in Hanover, a 35,000 sqm. retail park directly adjacent to the A2 motorway including 2,000 parking spaces. The center features 32 high-quality tenants including C&A, Deichmann, Esprit, Reno, Saturn and a Real hypermarket. The retail park in Gründau-Lieblos near Hanau comprises of five fully let units with over 21,000 sqm. as well as approximately 600 parking spaces. Anchor tenants of the park are Bauhaus and Media Market. The Berlin addition to the portfolio, which is to be managed by Redevco has a GLA of almost 6,900 sqm, with anchor tenant Media Market occupying approximately 4,200 sqm. The two upper floors are let to the fitness club chain Crunch Fit. The property is located in the Wedding district of Berlin and provides 1,000 parking spaces.
