London/Düsseldorf – ESTAma announces the sale of the Shopping-Center “Goethe-Park-Center” in the picturesque city of Bad Salzungen in the German State of Thuringia to the Düsseldorf-based Interra Immobilien AG, which has purchased the asset together with a family office and plan to hold long-term.
Alexander Dold, Chairman of Interra, explained the motives of the purchase: “The center offers visitors numerous big chain names such as drug-store chain dm, Deichmann or tegut but also numerous local retailers.” Currently, 19 tenants occupy the ca. 8,300 m2 letable area of the center which was built in 1996. “This tenant mix and the good condition of the asset convinced us!”
The decision for this acquisition was supported by the centers embedded location in a touristic region with solid economic fundamentals. The city is attracts some 21,000 local and 120,000 regional residents as well as many tourists. Last year, the spa town counted almost a quarter of a million overnight stays and more than 30,000 spa tourists. The property is strategically located between the “Gradierwerk”, a spa facility of supra-regional importance, and the historic city centre.
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.