Benson Elliot buys shopping centers from Brack Capital
Benson Elliot has acquired the majority share of three retail parks from Brack Capital Properties (BCP) for €175mn. BCP or its parent company Adler Real Estate had announced the sales of the Hanse Center in Bentwisch near Rostock, the retail park on Telefunkenstraße in Celle, and the shopping center Widumer Platz in Castrop-Rauxel back in March. According to that release, BCP retains a minority share of 10.1 %. The portfolio has 100,600 sqm lettable space, of which 99 % are leased long-term. Asset manager Modulus supported Benson Elliot with the transaction and will manage the three properties. Benson Elliott had already taken over the majority of Adler’s non-core residential portfolio last year.
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