IC Immobilien Gruppe has sold a neighbourhood shopping centre in Genthin near Magdeburg with a leasable area of approx. 1,300m² to Deutsche Konsum REIT-AG. The property – which was erected in 1993 – originates from the fund portfolio of the real estate fund BBV Immobilien-Fonds Nr. 10 GmbH & Co. KG which is managed by IC Immobilien Gruppe; the latter was mandated with the asset management for the building, as well as with the commercial, technical and accounting property management.
Prior to the successful sale of the property IC Immobilien Gruppe was able to secure a long-term extension of the lease agreement with the anchor tenant Edeka. In addition to its use for retail trade purposes, the property has several hundred square metres of office space and service sector areas. The purchase price was not disclosed.
