An investment vehicle exclusively advised by Bruton Capital, the German real estate investment and asset management firm, has successfully sold a large Kaufland supermarket in Thuringia.
The asset at Unterwellenborn, offering c.9,500 sqm of retail space, was leased to Kaufland until December 2028.
The property was purchased as part of a portfolio acquisition earlier in the year and the asset management team were able to secure the long term income and achieve an attractive disposal price.
An OBI supermarket on the same plot has been retained and has not been sold as part of this disposal.
The property was acquired by TLG who were advised by Knight Frank Berlin.
Ross MacDiarmid, a partner at Bruton Capital, said: “This succesful transaction follows others we have concluded with TLG and we are very pleased with the strength of the relationship and the level of collaboration. We hope to work with them on additional transactions in the future.”
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.