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EQS-News: Branicks Group AG
/ Key word(s): Real Estate/Disposal
Frankfurt am Main, November 20, 2024 Press release of the Branicks Group AG Branicks Group AG sells former Horten-Kaufhaus in Bremen city center
Frankfurt am Main, November 20, 2024: Branicks Group AG (“Branicks”), ISIN: DE000A1X3XX4, one of Germany's leading listed real estate companies, notarized the sale of the Bremen retail property at Papenstrasse 5 as an asset deal on November 18, 2024. Closing is planned by the end of the year. The buyer is BRESTADT GmbH, the urban development and realization company of the Free Hanseatic City of Bremen. The purchase price amounts to EUR 37.2 million. With this sale, Branicks Group AG is moving closer to its forecast transaction target for sales from the Commercial Portfolio in the EUR 500-600 million range and has already significantly exceeded the EUR 450 million threshold. The property is a multi-tenant retail property in a central city center location in Bremen, Papenstrasse 5, better known as Horten-Kaufhaus Bremen (most recently Galeria Kaufhof), until its closure in 2020. Opti-Wohnwelt then operated a furniture store there alongside other retail companies. Branicks acquired the property, which was built in 1972, for its own portfolio in 2011 and is now selling it to the municipal company BRESTADT GmbH. “This central and attractive location for Bremen's city center is now being transferred to the municipal development company, opening up new design options following the closure of Kaufhof and its interim use by Opti-Wohnwelt. For us, the sale contributes to our further financial consolidation and the sharpening of our portfolio in line with our strategic orientation and focus on the logistics, office and renewables asset classes and is a further step towards achieving our planned sales target in the Commercial Portfolio for 2024,” commented Sonja Wärntges, CEO of Branicks Group AG, on the transaction.
The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate cash flows from stable rent revenues on long-term leases while also optimizing the value of our portfolio assets through active management and realizing gains from sales. In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields. The shares of Branicks Group AG are listed in the Prime Standard of the German Stock Exchange (WKN: A1X3XX / ISIN: DE000A1X3XX4). The company is fully committed to sustainability and occupies top positions in ESG-relevant ratings such as Morningstar Sustainalytics and S&P Global CSA. The Branicks Group is also a signatory to the UN Global Compact and the UN PRI network. Properties in the Branicks portfolio have been awarded renowned sustainability certificates such as DGNB, LEED or BREEAM. For more details, go to
PR Contact Branicks Group AG: Stephan Heimbach Neue Mainzer Strasse 32-36 D-60311 Frankfurt am Main Phone 1569
IR Contact Branicks Group AG: Jasmin Dentz Neue Mainzer Strasse 32-36 D-60311 Frankfurt am Main Phone 1492
20.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Branicks Group AG |
| Neue Mainzer Straße 32-36 | |
| 60311 Frankfurt am Main | |
| Germany | |
| Phone: | 1492 |
| Fax: | 9399 |
| E-mail: | |
| Internet: | |
| ISIN: | DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9 |
| WKN: | A1X3XX, A12T64, A2GSCV, A2NBZG |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange |
| EQS News ID: | 2034715 |
| End of News | EQS News Service |
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2034715 20.11.2024 CET/CEST
