24,000 sqm regional shopping centre in the city of Bremen.
The asset was purchased in December 2013 by EPISO III: a fund managed by Tristan Capital Partners with co-investment from Kintyre. The investment has an ‘opportunistic’ profile with value tobe delivered through a strong and focused leasing programme, supported by minor refurbishment works.
Kintyre acts in the following capacity on this project:
- Co-Investor/Transaction Advisor – Responsible for transaction underwriting, coordinating the due diligence process, and acquisition closing mechanics.
- Debt Financing – Secured the Acquisition and CapEx financing facilities from local Sparkasse lender to ensure best financial terms available.
- Concept & Design – Evaluated the current strengths and weaknesses of the customer frequency flows throughout the center, and delivered improved customer flow by re-anchoring the center.
- Leasing – Over the space of 18 months Kintyre leased more than 14,000 sqm of space in the Centre across 15 different units, including securing key anchor tenants Edeka, Aldi, Rossmann, Woolworth and Deichmann on long term leases.
- Asset Management – Supporting the leasing program, Kintyre has coordinated the respective CapEx program to restructure and refurbish tenant units, as well as undertaking a refurbishment of the internal mall area of the centre.