BLP Germany advises CBRE Global Investors on sale of StadtCenter Düren
BLP Germany has advised CBRE Global Investors on the sale of StadtCenter Düren, a shopping centre in North Rhine-Westphalia. The centre was sold to investment firm Union Investment who purchased the property for the open-end real estate fund UniImmo Deutschland. The purchase price amounted to approximately €70m.
The two-storey building, located in Düren city centre, offers approximately 17,800sqm for 54 current retail and restaurant tenants and 311 parking spaces. The shopping centre’s anchor tenants include a Saturn store covering 3,800 sqm, H&M with 2,200 sqm as well as further well-known brands including Deichmann, dm-drogerie markt and New Yorker. The centre is currently nearly fully leased with an occupancy rate of 96%.
A team led by Hanns-William Mülsch Partner, Real Estate, and Tina Siebenhaar, Partner, Frankfurt, advised CBRE on this transaction as well as on the acquisition of the centre in 2013. Hanns-William Mülsch and Tina Siebenhaar regularly advise CBRE on real estate transactions such as the recent acquisition of the Karstadt department store and the Karstadt sports store in Düsseldorf.
The cross-office team included Partner, Stephan Krampe, Counsel, Wolfgang Klövekorn, and Associates, Theresia Blath, Lorenz Ludewig and Michaela Penkalla.