Maritime metropolis again in the spotlight of the European fund – KGAL’s acquisition of the “BerlinerFreiheit” shopping centre and neighbourhood hub is another venture in the Free Hanseatic City of Bremen for the independent investment and asset management company. The property will be added to a special Europe-wide real estate AIF.
"Bremen’s visionary slogan ‘Moin Zukunft!’ (‘My future!’) perfectly harmonises with our own future-oriented fund strategy. We are therefore exceptionally pleased to be participating in the positive development of the Free Hanseatic City of Bremen with this investment. Due to the positive retail centrality and growing purchasing power, as well as the high population density and the resultant healthy demand base in the immediate vicinity of the property, we expect to see stable performance," says André Zücker, Managing Director of KGAL Investment Management GmbH & Co. KG, who is responsible for the company’s real estate asset class.
Following the acquisition of the hanseWasser Bremen company headquarters building, which was awarded the DGNB Platinum sustainability certificate in 2017, the pan-European fund is focusing on the city state once again. The "Berliner Freiheit" shopping centre and neighbourhood hub is located in the eastern district of Bremen-Vahr, where it has a key function in supplying the local area. The property, which was built in 2002/03 and comprises a total rental area of around 21,000 m², is especially attractive in terms of its strongly diversified, sustainable mix of tenants. The wide range of services on offer is clearly illustrated by the tenants of the centre, of which there are around 80, spanning the retail, office, service and health sectors. The Vahr open-air market complements and completes the available facilities, opening three times a week in the market square outside the "Berliner Freiheit" building.
The neighbourhood hub was sold by the Hamburg-based family-run firm which originally built the property. Property and centre management will continue to be handled by Objekt-Entwicklung Gesellschaft für Grundstücksentwicklung mbH, a member of the family-run firm’s corporate group.
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