REDEVCO Services Deutschland purchases Angereck mixed-use building in Erfurt, Germany (DE)

REDEVCO Services Deutschland GmbH has purchased the Angereck retail, office and residential building in Erfurt from the insurer Berliner Ärzteversorgung. The parties have agreed not to disclose the sales price; the transaction was brokered by Kemper's Leipzig.

Angereck, Erfurt

Angereck, a modern building finished in 1999, commands an A1 location at Anger 62 in downtown Erfurt, the capital of the federal state of Thuringia. It comprises a total lettable area of around 7,500 m² and is fully let.

The retail units occupied by the fashion chain H&M, bookseller Hugendubel, shoe store Roland-Schuhe, and a bakery cover over 5,000 m² in the basement and on the ground floor and first floor. Just under 2,100 m² of offices accommodating the insurer Kaufmännische Krankenkasse Halle and the law firm Dr. Eick & Partner occupy the third and fourth floors, while seven apartments share the remaining 480 m² on the fifth and sixth floors.

Angereck matches REDEVCO's investment profile 100%. The Düsseldorf-based real estate company is consistently pursuing a diversification strategy designed among other things to reduce the share of single-purpose, city-center retail properties in the portfolio in favour of multi-tenant properties in A1 locations and retail parks. In Germany alone, REDEVCO plans to channel €400-700 million over the next three to five years into direct acquisitions and project developments in the retail, office and logistics segments.


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