Europe

CBRE buys German shopping centre

CBRE Global Investors has bought a German shopping centre from MEAG on behalf of a pan-European retail strategy.

The 300,000 sq ft Rahlstedt Center in Hamburg, which has 45 retail units, 12 offices, 56 apartments and 554 parking spaces, sold for an undisclosed price.

Florencio Beccar, head of retail EMEA, CBRE Global Investors, said: “Rahlstedt is the dominant shopping centre within its micro market, offering a good mix of convenience and mass market fashion retailers. The property is located in one of Europe’s strongest markets where the supply of investment opportunities are limited.

“The asset has a strong operational track record and good fundamentals from where to build the investment case.”

CBRE Global Investors was advised by CBRE.

Other News

Greater London’s planning application hotspots

EG has picked out the top eight London postcodes that have seen increases in planning applications. The hotspots, located mainly across outer London, averaged just three… Read more »

E Europe

Blockade means uncertainty for future of Qatari investment

There can be absolutely no doubt about the extent of Qatar’s heavy investment abroad in recent years. Since 2004 the gas-rich Gulf state has invested… Read more »

E Europe

UK owners still dominate London office ownership

Cash from around the world has poured into the capital’s business districts in recent years, but domestic owners still rule the roost. Looking at office… Read more »

E Europe