Deka Immobilien has acquired the Walle Center in Bremen, northern Germany.
The seller is a fund managed by Tristan Capital Partners. The purchase price was not disclosed. The property will be placed in the Immobilien-Spezialfonds Domus-Einzelhandel-Deutschland (DED) fund, launched in October 2015.
Built in 1999 and comprehensively modernised in 2015, the asset has a lettable area of around 24,000 m2 and 714 parking spaces. About 70% comprises retail and food, including anchor tenant Edeka. The remaining space is occupied by a police station, offices, health centres, a gym and three apartments.
Situated in the up-and-coming Walle district, northwest of downtown Bremen, the property almost fully occupied.
