Patrizia buys 20,000 sqm retail park near Berlin
Patrizia has acquired the Oranienpark shopping mall complex on Kremmener Straße/Friedensstraße in Oranienburg, north of Berlin. The property comprises around 20,400 sqm with twelve rental units and 1,000 parking spaces and is almost entirely let. Tenants include Kaufland, Medimax and Möbel Roller. The average term of the leases is approximately 10.5 years. Patrizia is placing the Oranienpark property into one of its German funds. The seller is Cerberus, which had acquired it in 2013 together with nine other Kaufland properties.
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