Greenman Investments acquires Tribseer Center in Stralsund (DE)

Irish real estate investment company Greenman Investments has acquired the Tribseer Center on Rostocker Chaussee in Stralsund. The total price of the Fachmarktzentrum stands at approx. €18.8 mln. This represents the first acquisition for the Greenman Retail+ investment fund, Greenman’s first AIF, set up in july 2014. The transaction was completed as part of a share deal.
“We are really happy that the first investment for Greenman Retail+ is in such a well-established Fachmarktzentrum,” said John Wilkinson, CEO of Greenman Investments. “Another pivotal aspect for this investment was that food retailer REWE will act as the anchor tenant, with a 40% share of store space.” Other tenants include Deichmann, dm Drogeriemarkt, Takko Fashion, jeans fritz, Dänisches Bettenlager and fressnapf.
The Tribseer Center is currently undergoing a complete revamp at the hands of Hamburg-based project management firm Concept-Immobilien Projektentwicklungs GmbH. The construction work is set to be completed in the fourth quarter of 2015, when the Fachmarktzentrum will re-open under the name ChausseeCenter.
The acquisition of the Tribseer Center marks a further milestone in Greenman’s expansion strategy in the German Fachmarktzentrum market. Two further acquisitions for the Greenman Retail+ investment fund are planned in the first half of 2015.
Source: Greenman