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EQS-News: Branicks Group AG
/ Key word(s): Disposal/Real Estate
Frankfurt am Main, 15 November 2023 Press release by Branicks Group AG
Branicks Group AG sells former Kaufhof department store in Leverkusen
Branicks Group AG (“Branicks”, ISIN: DE000A1X3XX4), one of Germany’s leading listed property companies, announced the disposal of a property in downtown Leverkusen today. Extending over about 20,400 sqm of fully occupied retail space, the premises are part of the former Kaufhof area, a high-street department store in the inner city. It is currently let to Dortmunder TEH Textilhandel GmbH (Modehaus aachener clothing store). The buyer is a subsidiary of Stadtteilentwicklungs- und Projektgesellschaft Leverkusen mbH, a development company owned by the City of Leverkusen. Branicks has now notarised a total disposal volume of c. EUR 145 million across its segments since the beginning of the year.
“The transaction is yet another step in the implementation of our ‘Performance 2024’ action plan, showing how we, even in a tough environment, identify and exploit opportunities one at a time as they present themselves on the market. By disposing of this retail property, we also keep honing our strategic focus on the logistics and office asset classes,” said Sonja Wärntges, CEO of Branicks.
Branicks had acquired the three-storey building at Wiesdorfer Platz 82 with its retail area of about 14,500 sqm and about 5,900 sqm of storage space for its Commercial Portfolio in 2007.
About Branicks Group AG Branicks Group AG (formerly DIC Asset AG) is Germany’s leading listed specialist for office and logistics real estate with 25 years of experience on the real estate market and with access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with nine offices on the ground in all major German markets (with VIB Vermögen AG included). We currently manage a total of 355 assets with a combined market value of EUR 13.9 billion on site, always close to our properties and their occupiers. The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising 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. 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
15.11.2023 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: | 1773389 |
| End of News | EQS News Service |
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1773389 15.11.2023 CET/CEST
