MIMCO Capital completes the acquisition of a Retail Park in Weisswasser, Germany

The MIMCO Group continues to invest on behalf of its Everest One fund with the acquisition of a Retail Park located in Weisswasser, Germany.

Located 115 km from Dresden, the capital of Saxony, and a few kilometers from the border with Poland, Weisswasser is the third largest city in the Görlitz district after Görlitz and Zittau.

The property has very good fundamentals and is in the immediate vicinity of an attractive environment with supermarkets, railway station and city center activities.

The investment represents nearly 10 Million euros for a total usable area of approximately 13,000 sqm and shows an annual global rent of more than 687,000 euros for a WALT of 6.5 years.

"The occupancy rate of the property is 86.74%, with TOOM Baumarkt, one of Germany's leading DIY store chains, as the main tenant for almost 9,000 sqm. Our other tenants include the electronics and household appliances chain Expert as well as Europe's leading shoe retailer Deichmann", says Bernd von Manteuffel, co-founder and CEO of MIMCO Capital.

"The potential for value creation lies in the vacant retail space, which is to be restructured and then leased to new, renowned companies to complement the existing retail offering. This investment is fully in line with the strategic investment objective of the Everest One fund", adds Christophe Nadal, also co-founder and CEO of MIMCO Capital.

Thanks to the entire team for this achievement, as well as to our shareholders and partners.

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