Branicks Group AG (Branicks) sold four retail park properties to a leading US real estate investment manager. One property comes from the existing portfolio of Branicks AG. The other three belong to the portfolio of BBI Burgerliches Brauhaus Immobilien Aktiengesellschaft, a subsidiary of VIB Vermogen AG. The parties have agreed not to disclose the purchase price.
The annual rent for the four properties amounts to €4.3m. The cash inflow from the sale amounts to a good €27m. The sale, including the effect on rental income, the further focusing of the portfolio on the strategic asset priorities of the Branicks Group and the organizational streamlining of the Group contribute to the goals of the Performance Program 2024 and are in line with the independently audited restructuring plan adopted in the spring of this year.
The three properties owned by BBI Burgerliches Brauhaus Immobilien Aktiengesellschaft are located in Bavaria - Pfaffenhofen, Simbach and Landshut. The property from the existing portfolio of Branicks AG is located in Stockstadt.
The Annual General Meetings of BBI Bürgerliches Brauhaus Immobilien AG and VIB Vermogen AG approved the merger of BBI Burgerliches Brauhaus Immobilien AG with VIB Vermogen AG. This will streamline the structure of the Branicks Group.
Image source - Pexels.
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