Hahn buys retail park in Lower Saxony
Hahn Group has acquired the famila Center in Brake, Lower Saxony, for the “Hahn German Retail Fund II”. The company quotes and investment volume of €18mn. The seller is J. Bünting Beteiligungs AG, who will be the prime tenant of the building. Grüneberg Property of Düsseldorf brokered the deal. McDermott Will & Emery advised on the transaction. The first section of the retail park was completed in 1973 and modernized in 2018. It has 16,800 sqm lettable space. Bünting is operating a famila supermarket with about 4,800 sqm retail space and a beverage market in the retail park. The remaining space is sub-let to 24 retailers and service providers, among them Elektronik Expert, the drugstore chain Müller, Takko, Deichmann, and KiK.
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