Wealthcap has sold the shopping center “Das Schloss,” also known as The Castle, located in Germany’s Berlin-Steglitz district. The property was held in the firm’s fund, HFS Deutschland 10, and was sold to Deka Immobilien, according to local German media outlets.
The sales price is estimated to be €255 million ($296 million).
The Castle has a lettable area of approximately 452,000 square feet and 564 parking spaces. The property is 95 percent occupied with anchor tenants of Media Markt, Anson’s and Rewe.
After the sale, HFS Deutschland 10’s assets includes only one asset, the Bahnhofspassagen Potsda, an office and shopping center, which the firm has plans to sell next year.
In the retail sector, consumer sentiment in Germany, as measured by the GfK Consumer Climate Index, maintained its high level in Q2 2018. High employment figures and some wage increases are underpinning positive sentiment. The global threat of protectionism has not y
