Listed German property company TLG Immobilien has acquired two shopping centres in western Dresden for a total sum of around 鈧�24.3 mln including costs.
The assets are local neighbourhood shopping centre Sachsen Forum, which was built in 1996 and has a lettable area of around 11,700 m2; and the directly neighbouring Fachmarktzentrum Merianplatz, which has a lettable area of around 3,000 m2.
Both properties are situated in the district of Gorbitz, in the heart of one of the largest residential areas in Dresden which is home to around 20,000 people. The rental agreements for both properties generate around 鈧�1.7 mln per annum.
Sachsen Forum was sold by TAM Grundst眉cksverwaltungsgesellschaft mbH & Co. Objekt Dresden-Gorbitz KG and the transaction was brokered by Tust Immobilien. The Merianplatz transaction was brokered by Cushman & Wakefield.
鈥楧resden is one of the prospering and fast-growing cities in eastern Germany. The steady influx of people and its positive economic performance make Dresden a popular place in which to invest, even in terms of convenience stores, which is why we are happy to add this highly promising micro-location to our retail portfolio鈥�, said Niclas Karoff, member of the management board of TLG Immobilien.
