An investment vehicle exclusively advised by Bruton Capital, the German real estate investment and asset management firm, has acquired two retail assets in the town of Hof in Bavaria.
Bruton’s opportunistic retail real estate fund, GRP Beta, has purchased the assets located at Hans-Böckler-Strasse 24 & 26 from funds advised by CR Investment Management.
Hans-Böckler-Strasse 24 is fully leased to several tenants including Norma, NKD and Admiral whilst Hans-Böckler-Strasse 26 is a vacant former Praktiker unit providing good potential for repositioning and asset management initiatives given its micro-location in a strong retail sub-market.
Colliers International acted for the vendor.
Ross MacDiarmid, a partner at Bruton Capital, said: “We are very positive about the asset management and repositioning story at Hans-Böckler-Strasse. The assets have been acquired on a very attractive basis and we already have strong interest in the vacant space available.”
NOTES FOR EDITORS:
Bruton Capital is a partnership based in Frankfurt and London providing the full spectrum of real estate investment and asset management capabilities to investors in Germany. Bruton Capital advises a number of private investment vehicles across different strategies with a principal focus on retail investment.
GRP Beta invests opportunistically in the retail sector in Germany where Bruton Capital, acting as investment and asset manager, identifies unique value-creating propositions. The fund balances a portfolio of diversified income generating assets with development and refurbishment opportunities.