Hanover: Newtown Gruppe buys Ihme-Zentrum at auction

26/02/2015

A property company owned by Berlin-based Newtown Gruppe has acquired the Ihme-Zentrum for €16.5mn through a court-ordered auction in Hanover. The deal for the private investor group was arranged by Angermann Investment Advisory under exclusive contract. According to the Hanover district court, creditor Landesbank Berlin (LBB) has accepted the offer, leading to an immediate transfer of ownership. The building complex consists of retail space, office towers, and 172 apartments and has been appraised at about €50mn. According to Angermann, the Ihme-Zentrum is now to be renovated and held in the new owner’s inventory for the long term.


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