Redevco sells German department stores to HFS

Redevco Germany has sold a portfolio with 10 C&A department stores in Germany for approx. € 80.3 mln. to H.F.S. Hypo-Fondsbeteiligung fur Sachwerte GmbH, a 100% subsidiary of Hypovereinsbank. The total surface of the sold stores represent approx. 70,000 m².

The sale involves ten department stores which are let to C&A in the German cities Bad Kreuznach, Berlin-Spandau, Freiburg, Gelsenkirchen, Hildesheim, Iserlohn, Kaiserslautern, Minden, Ravensburg and Wuppertal-Barmen with a total net surface of approx. 70,000 m². The sale fits perfectly in Redevco’s strategy to diversify its portfolio and to be less dependent of one tenant.

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