HAMBURG, GERMANY-Corestate Group has bought a distressed retail portfolio in Germany for an amount of EUR 53 million. The portfolio contains 20 high street retail properties, which were originally bought in 2006 by a foreign investor.
Since 2006, the vacancy rate in the portfolio increased to 30%. The properties are situated in different urban areas including Hamburg, Aachen, Potsdam and Duisburg. The deal also included a complex reorganization of debt facilities provided by foreign and German banks. For the full story, go to PropertyMall .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
