Redevco has expanded its REDOS Einzelhandel Deutschland III fund by acquiring the Indupark-Center Dortmund, a retail park located at Wulfshofstraße 6-8.
The 25,184 m² property is fully leased to 30 businesses, including major tenants like Kaufland, MediaMarkt, and dm.
Markus Haimerl, Director of Transactions at Redevco, said: “The Dortmund location has demonstrated a very robust development in socio-economic fundamentals that are important to us, and we expect this positive trend to continue. We were also convinced by its easily accessible micro-location. By making the roof PV-ready, we can implement our ambitious sustainability goals at this new site in the near future. We are therefore pleased with this successful transaction, which allows us to further diversify our fund portfolio in a targeted manner while generating stable cash flows for our investors.”
Built in 1976 and refurbished in 2013, the retail park has a 99% occupancy rate and a weighted average lease term of 6.6 years. The entire site spans 93,838 m² and includes 1,407 parking spaces. It’s located in western Dortmund, near the A40/A45 motorway interchange.
Redevco’s retail park platform now includes around 200 properties across Europe, worth nearly €5bln. McDermott Will & Emery, EY, and Terraplan advised Redevco, while CMS and CBRE advised the seller, Württembergische Lebensversicherung.
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