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  • NAI apollo negotiates sale of the Wittenberge retail park to SynVest Investment Management BV

NAI apollo negotiates sale of the Wittenberge retail park to SynVest Investment Management BV

Frankfurt am Main, 15.11.2017 – The owner-managed real estate consultancy NAI apollo – partner of the NAI apollo group – assisted a North American investor with the sale of a retail park in the Wittenberge industrial zone. The buyer of the property, which includes about 20,200 sqm of rental space, is SynVest Fund Management BV for the SynVest German Real Estate Fund.

The retail park is situated at 21, Lenzener Chaussee, placing it close to the German federal highway 189. A McDonald's, an Aldi and a Shell petrol station are also located in the immediate vicinity. The property was built in 1993 and is currently fully let. Tenants include toom Baumarkt and Charles Vögele as well as REPO and EDEKA. The retail chain recently signed a 10-year lease contract.

"Wittenberge has a retail centrality of 176 % and is therefore highly attractive to the surrounding communities. Ideal conditions exist here to secure the future and value of the retail location for the long term," said Johannes Stubenrauch, a Consultant at NAI apollo.

"Looking ahead, the new owner has gained a property that has considerable potential for success," added Lenny Lemler, managing partner of NAI apollo.

SynVest Fund Management BV is a Dutch investment adviser based in Amsterdam. Established in 2005, the company now manages a €400 million asset portfolio consisting of shares, bonds and real estate. SynVest German RealEstate Fund currently owns holdings in more than 40 properties with a focus on retail and residential. SynVest Fund Management is planning to make further purchases for the fund in 2017 and 2018.

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