Germany’s Branicks Group has sold four Bavarian retail park properties to a leading US real estate investment manager.
The unnamed Bavarian retail park properties are in iPfaffenhofen, Simbach, Landshut and Stockstadt. The purchase price has not been disclosed.
One property comes from the Branicks AG portfolio. The others are from the portfolio of BBI Bürgerliches Brauhaus Immobilien Aktiengesellschaft, a subsidiary of VIB Vermögen AG.
The annual rent for the four properties is €4.3 million. The cash inflow from the sale is €27 million.
The Annual Meetings of BBI Bürgerliches Brauhaus Immobilien AG and VIB Vermögen AG approved the merger of BBI Bürgerliches Brauhaus Immobilien AG with VIB Vermögen AG. This will streamline the structure of the Branicks Group.
The image of Landshut is by Igor Zeiger and is from Flickr.
