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HIH Invest sells vintage mixed-use property in Germany
HIH Invest Real Estate has sold a vintage mixed-use office and retail building from the portfolio of a closed-end institutional fund. wohninvest Holding acquired the property for an undisclosed amount.
The landmark retail building was originally constructed as a department store in 1921. After sustaining heavy damage during World War II, the building was restored in postwar times. Throughout the years, it has undergone several structural alterations, refurbishments and upgrades, most recently in 2018.
Located in the High Street pedestrian precinct of Bochum, Germany, the property at Kortumstrasse 72 has a leasable area of 17,511 square meters (188,486 square feet), spread across six upper floors.
“In architectonic terms, Kortumhaus is among the most significant historic department stores anywhere,” said Jens Nagelsmeier, head of transaction management retail & healthcare at HIH Invest. “Executed in compliance with the listed building consent, the struc