Hofgarten-Center in Solingen goes to Revcap
A buyer has been found for the Hofgarten shopping center in Solingen. The private equity investor Revcap is taking over the center on Graf-Wilhelm-Platz with roughly 27,000 sqm lettable space in a share deal. The sellers are Rabo Bank and Sonae Sierra, who had built the center with MAB Development. The original investment for the Hofgarten property, which was finished in 2013, was about €120mn. In the fall of 2018, Rabo Bank and Sonae Sierra had announced their intention of selling the center. Revcap is taking over the property for an opportunistic fund. Clifford Chance and Hauck Schuchardt advised the buyer, JLL supported the sellers.
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