Hannover: DRIA GmbH manages sales process of a neighbourhood retail center

DRIA GmbH has recently arranged the sale of a retail center based in Hannover to a Cologne based investor. The property is situated in the district of Bemerode, roughly 11 km afar from Hannover´s city center. The center has a rental area of ca. 5.000 m² of which ca. 2.057 are let to the anchor tenant Rewe. Another ca. 1.000 m² of the rental area are let to the food discounter ALDI Nord. At the time of the sale, parts of the property were still unlet offering value add potential. The necessary steps to allow for extensions of the sales floor areas of the supermarkets had already been arranged by DRIA GmbH in collaboration with the city of Hannover. The seller is VOCOM Grundstücks GmbH, an affiliated company of the Israel based Lahav family, who´s asset management activities in Germany are exclusively executed by DRIA. The property was acquired in the 4th quarter of 2018. The parties agreed not to disclose the purchase price.

Buyer: Company, Cologne

Seller: VOCOM Grundstücks GmbH, Heinsberg