Corestate Capital Group has bought a retail asset in Suhl, a city in the central German state of Thuringia from a Marcol fund.
The high street asset 'Am Steinweg', located in Suhl's pedestrian zone, has a gross leasable area of 9,100 m2 and is fully let. Its anchor tenants include C&A, Expert and drug store dm.
The seller is a Luxembourg vehicle forming part of the Repco fund managed by Marcol International Asset Management. The price was not disclosed.
'The successful disposal of the asset in Suhl forms part of a planned divestment of the Repco fund’s retail assets in Germany,' said a Marcol spokesperson.
Cushman & Wakefield advised Luxembourg-based Corestate Capital.