Funds advised by Bruton Capital, the German real estate investment and asset management firm, have sold a retail property of 8,000 sq.m., which was a former Praktiker located in a retail park in Jena.
The vacant property was acquired by Bruton in 2016 as part of a larger retail portfolio. After its acquisition, Bruton subdivided the property separating the vacant building from the remaining property. The vacant building was sold to a local investor resulting in a significant profit over acquisition cost for Bruton’s investors.
Ross MacDiarmid, a Partner at Bruton Capital, said : “This is part of our active asset management strategy to restructure the Jena retail property and create value for our investors.”
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.