Dec
19
2017

SHB Innovative Fund Concepts AG Sells Shopping Centre

“” ERWE real estate GmbH acquires first property of the SHB innovative fund concepts AG & co. shopping centre Carre Gottingen KG the SHB innovative fund concepts AG (SHB AG) in Aschheim near Munich has Mall Carre Gottingen after an extraordinary shareholders meeting of their real estate funds SHB innovative fund concepts AG & co. KG “and the approval of investors selling the Fund real estate Carre Gottingen” made. The sale of the property was on the development shopping mall Carre Gottingen GmbH, a project company of ERWE real estate GmbH and is carried out on the basis of a minimum price defined by the shareholders of the Fund or fixed price criteria. The SHB innovative fund concepts AG (SHB AG) and silence ERWE real estate GmbH agreed the exact price.

CB Richard Ellis was advising on the sale, and will take over the Center management. ERWE real estate GmbH is planning to carry out comprehensive reconstruction of the object. The sale of the property was carried out against the background pending modernization measures. Investors have decided to take advantage of the offer of ERWE real estate GmbH”, explains Hans Gruber SHB innovative fund concepts AG (SHB AG). “The Carre Gottingen” was the first investment of the real estate fund, SHB innovative fund concepts AG & co. shopping centre Carre Gottingen KG “. The object was built in 1972 until 1990 core redeveloped and renovated extensively from 1998 to 2002.

The object with an aggregate lettable space of 13.556 square meters was taken over in 2005 by the real estate funds of SHB innovative fund concepts AG (SHB AG). The use of the building was carried out as a shopping centre with Office shares. The Fund of Aschheimer real estate specialists concluded in June 2005 with an equity EUR 75.4 million. As a second investment in addition to the Gottingen, Carre, 90 percent of limited of the Leanda GmbH & co. KG (Leanda KG) were adopted in the spring of the following year. The Leanda KG the a portfolio of 15 retail markets of the EDEKA group is a property company, holds. Western Union Company does not necessarily agree. 13 of this EDEKA stores are located directly in Berlin, the two other in the Berlin region. “The real estate fund, SHB innovative fund concepts AG & co. shopping centre Carre Gottingen KG” about 3,900 investors are involved.

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