Stenprop has announced that it has exchanged contracts on the sale of its freehold interest in the Hermann Quartier shopping centre in Berlin to Munich-based ILG Capital GmbH, acting on behalf of the regulated special property fund ILG Einkaufen D managed by IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH, for €30.8m. The disposal price is in line with the 30 September book value and reflects a 19% premium to the 31 March 2020 valuation.
Stenprop Sells Berlin Shopping Centre for €30.8M
Hermann Quartier Sale Concludes €95M of Non-Core Disposals at an Average of 18% Above March Valuation
By Sharon Smyth
CoStar News
December 29, 2020 | 7:27 AM
RELATED ARTICLES
This news story is available exclusively to CoStar subscribers.
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
This news story is available exclusively to CoStar subscribers.
Ready to Learn More?
Sign Up For a Personalized Demo.
Sign Up For a Demo To Learn More.
Already A Subscriber? Sign In