MIMCO Capital Group announces that it has completed the acquisition of a new mixed residential and retail real estate asset located in Haldensleben, Saxony-Anhalt, Central East Germany.
Acquired on behalf of its Everest One SICAV-RAIF fund, this complex is located close to the city of Magdeburg and benefits from a strategic position near the city center, essential amenities and the main traffic connections of the municipality.
The real estate complex extends over a rental area of nearly 10.500 sqm divided into a large retail/office complex with more than 23 retail stores and a residential section. 136 parking spaces complete the assets.
"The German real estate market is particularly resilient. The real estate asset benefits from a location that is both visible and accessible. It is home to quality companies that have been involved in the life of the shopping center for many years, contributing to the development of the local economy", said Bernd von Manteuffel, co-founder and CEO of MIMCO Capital.
More than 90% of the building is occupied by Edeka-Gruppe, one of the leading German food retailers. In 2009, the group achieved 42 billion euros in sales through 12.000 outlets.
"This new acquisition from the Everest One fund is fully in line with its strategy of investing in value-added assets, further strengthening MIMCO Capital's presence in the heart of Germany's most dynamic regions. With assets such as Haldensleben, we are ensuring the creation of quality assets and long-term value creation for our shareholders", Christophe Nadal, also co-founder and CEO of MIMCO Capital, explains.
We would like to thank the entire team and our partners for this acquisition.