London/Amsterdam – ESTAma announces the sale of a Combi supermarket in the Münsterland city of Cloppenburg (Germany) to Synvest German Real Estate Fund. The asset comprises a lettable area of 2,697 m2 and is fully let on a long-term lease to the Bünting Group headquartered in Leer (Ostfriesland) which operate a supermarket in this property.
Raymond Beaujean, Director at Synvest Germany explains the rational: “The property benefits from an excellent location of the property directly at the federal road B213 and complimentary well-known retailers in direct proximity. The attractive financials of the investment matched our investment criteria perfectly. Particularly, the proximity to the Dutch border was of importance to us. We are delighted to conclude a further successful transaction with the team at ESTAma.”
Synvest is a Dutch real estate investor (open-ended funds) with ca. € 420 million invested capital across 100 assets in Germany. Last year, Synvest acquired more than 30 properties and has similar ambitions for 2020 with an investment target of € 120 million.
The seller, a fund advised by the US-based investment manager Marathon Asset Management, exclusively mandated ESTAma as its sales agent and transaction manager. The parties agreed to keep the purchase price confidential.