The asset was owned by hausinvest, a market leading German Open-Ended Fund vehicle managed by Commerz Real Investment GmbH. Purchaser of the medium scale shopping mall is the South-African listed Lighthouse Properties p.l.c. that invests in shopping centers located in large Western European cities with economic growth. The parties agreed a purchase price of €168.2 million.
“Following the completion of some key business plan milestones on asset management level such as the successful Primark store integration in 2021, and the most recent opening of a new Alcampo hypermarket in summer 2024, the property appeared well positioned for a strategic sale to a new owner. We are pleased that the institutional investment market confirmed our anticipation in this respect through a strong level of participation in our structured disposal process. The transaction contributes an important data point to the European shopping centre investment market that is noticeably attracting new interest from institutional capital”, says Klaus Mennickheim, Managing Partner at ambas Real Estate.
