Redevco Germany has sold a portfolio with 10 C&A department stores in Germany for approx. Ã¢âÂ¬ 80.3 mln. to H.F.S. Hypo-Fondsbeteiligung fur Sachwerte GmbH, a 100% subsidiary of Hypovereinsbank. The total surface of the sold stores represent approx. 70,000 mÃÂ².
The sale involves ten department stores which are let to C&A in the German cities Bad Kreuznach, Berlin-Spandau, Freiburg, Gelsenkirchen, Hildesheim, Iserlohn, Kaiserslautern, Minden, Ravensburg and Wuppertal-Barmen with a total net surface of approx. 70,000 mÃÂ². The sale fits perfectly in RedevcoÃ¢â¬â¢s strategy to diversify its portfolio and to be less dependent of one tenant.