Deal Snapshot
WCM Sells Retail Properties in Germany
Monday 29 June 2020

German property company WCM Beteiligungs- und Grundbesitz AG and certain of its subsidiaries have entered into an agreement with an investor focused on retail properties for a disposal of a retail property portfolio located in various locations across Germany and in addition for another retail property portfolio, the company said.

The sale price is approx. EUR 28m (USD 31.53m). The price for the other retail property portfolio is approx. EUR 90m (USD 101.36m). The buyer has a discretionary rescission right until August 31, 2020. The sale of the portfolio is above book value and is in line with the company's strategy to increase the focus on office asset type and pursue disposals of non-core assets.

Date Published: 29/06/2020