Funds advised by Bruton Capital, the German real estate investment and asset management firm, have acquired an 8800 sq.m. retail centre in Alsfeld, in Hesse, Germany. The centre benefits from an excellent tenant mix, having leases in place with REWE, Euronics and fashion retailer, Modetreff. The centre has some vacant space which Bruton Capital will lease up using its long-standing relationships with prominent German retailers to secure leases with strong tenant covenants. There is also potential to further develop this site and maximize its upside potential, which Bruton Capital will pursue to deliver an excellent return for its investors.
Ross MacDiarmid, a partner at Bruton Capital, stated: “Alsfeld is a prosperous town and this retail centre is located by a major access road close to the downtown core. This has an ideal combination of defensive quality with REWE, the food supermarket chain as the anchor tenant, and upside potential arising from the vacant built areas and opportunity for new development.”
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, each having a different strategy, with a principal focus on retail investment.