ARCADIA Investment Group brokers Baltic Centre in Schwentinental to a closed-end real estate investment fund
The Leipzig ARCADIA Investment Group brokered the Baltic Centre shopping centre in Schwentinental to a closed-end real estate investment fund based in Munich as part of a portfolio management mandate. The Baltic Centre is part of the Ostseepark Schwentinental in the immediate vicinity of Kiel in Schleswig-Holstein, which is considered one of the largest retail parks in Germany. The Baltic Centre was built in 2001 and has a rental area of more than 16,700 m². In 2011, extensive refurbishment and restructuring measures took place. The seller of the property, the purchase price of which was tacitly agreed between the contracting parties, is a Dutch family office.
The Baltic Centre is located on a 5,406 m² property and has four levels are used exclusively for retail and catering purposes. There are also 140 underground parking spaces. The anchor tenants are New Yorker, Woolworth, C & A as well as the Adler fashion store.
Ostseepark Schwentinental is one of the largest retail parks in the Federal Republic of Germany and serves a catchment area of around 405,000 inhabitants with more than 100,000 m² of retail space. Thanks to the two direct connections to the B76/202 and L52, the Baltic Sea Park has excellent traffic links in terms of infrastructure. The retail agglomeration offers a wide range of goods and also boasts more than 5,000 free parking spaces. Further planning allows for moderate growth in the Baltic Sea Park.
ARCADIA Investment Group has focused its specialisation on the development of property used for retail and residential properties as well as car parks and underground car parks throughout the entire Germany. In addition to activities relating to its own portfolio, it has also implemented a host of projects in the framework of joint ventures – amongst others in close collaboration with numerous national and international companies. One of the company’s core business functions is also the optimisation, maintenance and expansion of the property portfolio of family businesses with the utmost care and confidentiality. ARCADIA Investment GmbH as the holding company for the group currently employs 20 people and is developing areas with a magnitude of more than 200,000 square meters. The accompanying project volume amounts to round 165 million euro.
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