Investment and Asset management firm KGAL has further expanded its real estate portfolio with the acquisition of the district retail centre Das Ziel in Henningsdorf near Berlin. KGAL has acquired the property during its reconstruction, taking benefit from its own internal expertise within the project development sector.
On reopening, major retail tenants such as Kaufland, dm, Deichmann and Clever Fit will offer a broad range of basic necessities, as well as provide fashions and leisure retail offering, with additional retail formats and services there will be approximately 12,000m² of rental space overall. 99% of the space is already leased. The centre will also include 260 parking spaces.
The refurbishment being completed in sections; the first section has already been finalised as of August 2016, with a further phase scheduled to commence in March 2017. The entire project is set to be finished by June 2017.
The property is being sold by G. I. Limited Partner B.V., a fund operated by Barings Real Estate Advisers. Koopmann projekte is performing the project development and project management on behalf of the seller.
